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WAEC Commerce 1998 Question 76

Question 76

Foreign Trade

One way of importing goods without the use of foreign exchange is through

  1. A.exchange controls
  2. B.entrepot trade
  3. C.quota
  4. D.tariffs
  5. E.counter trade
Show the answer and explanation

Answer: E (counter trade)

Explanation

Counter trade exchanges goods for goods, so no foreign currency is needed.