Question 1

Which of the following constitute non-tariff barriers to trade?

Options :

A : Increased import duties

B : Complex customs procedures and paperwork for any goods crossing borders

C : Reduced import duties

D : Government subsidies to domestic producers

Answer: B,D

Question 2

The Paris Agreement is about:

Options :

A : Climate change

B : European free trade

C : Taxation on fashion houses

D : Rail freight rates

Answer: A

Question 3

Which one of the following is a commercial document issued by a seller seeking payment for goods or services?

Options :

A : Delivery note

B : Pre-qualification questionnaire

C : Invoice

D : Supplier quotation

Answer: C

Question 4

An arrangement between a buyer and a supplier in which they agree to apportion benefits (such a reduced costs, or increased outputs) arising from particularly sound contract performance may be called:

Options :

A : Painshare

B : Fair share

C : Gainshare

D : Stocks and shares

Answer: C

Question 5

‘The value of a commodity or service measured in terms of the standard monetary unit’ describes:

Options :

A : Cost

B : Value added

C : Price

D : Value for money

Answer: C