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Exchange of goods in international market which does not involve the use of money is...

Commerce
WAEC 2018

Exchange of goods in international market which does not involve the use of money is a

  • A. barter trade
  • B. entreport trade
  • C. counter trade
  • D. bilateral trade
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Correct Answer: Option C
Explanation

Counter trade is a form of international trade in which goods or services are exchanged for other goods or services rather than the use of hard currency.

Countries that engage in countertrade have limited foreign exchange or credit facilities, and it is most common in developing countries.


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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts