(a) What is entreport trade?
(bi) Differentiate between a bill of lading and a consignment note
(bii) Explain the use of bill of sight in foreign trade
(c) State five reasons for the criticism against advertising
(a) Entreport trade is a trade in which goods shipped to one port are re-exported and shipped to another part. It is also the
re-exporting of goods imported from other nations.
(bi) A bill of lading is a contract of carriage of goods between an exporter and the shipping company while a consignment
note is a document made out by the sender of goods, signed by the consignee on delivery as proof of delivery.
(bii) - The document enables the goods to be landed and their inspection is authorised by the custom
- The document has a full description of the goods that will be provided later
- It is a document used in import trade
- It is a document submitted to the custom authorities if the full description of the imported goods cannot be provided.
(c) - It leads to Monopoly
- It can lead to unhealthy competition
- It interferes with the free choice of consumers
- Advertising encourages buyers to make unnecessary purchases
- Advertising appeals mainly to the irrational motives in people.
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