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The ...80..... frequently used in international trade is the US Dollar.

English Language
WAEC 2021

In the following passage, the numbered gaps indicate missing words. Against each number in the list below the passage, four options are given in columns lettered A to D. Choose the word that is the most suitable to fill the numbered gaps in the passage.

Money serves as a ....71..... of exchange modern world. This is perhaps the most important 72 of money. People who have money can use it to buy goods and.73......Without it, trade will be carried out on the basis of ...74.... where goods or services are exchanged as was the practice in the years gone by. This mode of trading has a number of disadvantages, as people will have to match their .....75..... With those of other people. For example, if a hunter wants to trade his ....76... for yam, he must find a ..... 77... who needs what he is trading. Another difficulty is determining the ....78..... of each item needed in the exchange. Therefore, this mode of trading is no longer commonly practised. Nowadays, people pay money for goods and services rendered both locally and internationally. International trade boosts the....79...of a nation. The ...80..... frequently used in international trade is the US Dollar.

The ...80..... frequently used in international trade is the US Dollar.

  • A. cash
  • B. money
  • C. currency
  • D. notes
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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Correct Answer: Option C
Explanation
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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 May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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 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