1.1. Trade and commerce
A subsection of Commerce, 7100, through 1. Commerce and production
Listing 10 of 55 questions
The increased importance of international trade has resulted in the global economy. Explain the term international trade. To what extent has international trade resulted in the growing interdependence of countries? Give reasons for your answer. Many countries are concerned about the growth of free trade in the global economy. What is meant by the term free trade? What measures might countries take to protect themselves against free trade? Mr Ahman has purchased goods costing $500 000 from another country. He needs to pay his supplier. Explain how a commercial bank might assist Mr Ahman with this transaction.
7100_s08_qp_2
THEORY
2008
Paper 2, Variant 0
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State two differences between home trade and foreign trade. Difference 1 Difference 2 A country has the following visible trade in percentage terms with the rest of the world: Visible trade Exports Imports % % Food Raw materials Fuels Semi-manufactured goods Manufactured goods Other items Fig. 1 Use the information given in Fig. 1 to help you to answer the following questions. Explain the term visible trade. Why might the country in Fig. 1 import more semi-manufactured and manufactured goods than it exports? For Examiner's Use Name one item in Fig. 1 where there is a surplus of exports over imports. Total exports in Fig. 1 are valued at $600m. Calculate the value of exported raw materials. Show your working. Explain how the country in Fig. 1 might increase its export trade. Is trading with another country more expensive to undertake than trading in the home market? Give reasons for your opinion.
7100_s09_qp_2
THEORY
2009
Paper 2, Variant 0
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Fig. 1 shows information about Ahmad and his commercial activities. Ahmad grows large quantities of vegetables. He uses many of the vegetables to feed his family and he gives away some of them. He takes the surplus vegetables to a market once a week in his van and sells them to people in the local town. Before he comes home, he buys groceries in the self-service store and fish at the harbour. Sometimes he barters vegetables for fish. Fig. 1 Use the information given in Fig. 1 to help you to answer the following questions. To what extent is Ahmad involved in trade? Give reasons for your answer. Ahmad bought some groceries from the self-service store and found that he had been overcharged. What actions should he take? The self-service store allows informal credit and accepts credit cards. Explain what is meant by informal credit. State two advantages to the customer of using credit cards at the self-service store. Explain one disadvantage to the owner of the self-service store of accepting credit cards. Ahmad owns a van. Explain the advantages to Ahmad of owning his own transport.
7100_s11_qp_21
THEORY
2011
Paper 2, Variant 1
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Fig. 1 shows information about Ahmad and his commercial activities. Ahmad grows large quantities of vegetables. He uses many of the vegetables to feed his family and he gives away some of them. He takes the surplus vegetables to a market once a week in his van and sells them to people in the local town. Before he comes home, he buys groceries in the self-service store and fish at the harbour. Sometimes he barters vegetables for fish. Fig. 1 Use the information given in Fig. 1 to help you to answer the following questions. To what extent is Ahmad involved in trade? Give reasons for your answer. Ahmad bought some groceries from the self-service store and found that he had been overcharged. What actions should he take? The self-service store allows informal credit and accepts credit cards. Explain what is meant by informal credit. State two advantages to the customer of using credit cards at the self-service store. Explain one disadvantage to the owner of the self-service store of accepting credit cards. Ahmad owns a van. Explain the advantages to Ahmad of owning his own transport.
7100_s11_qp_22
THEORY
2011
Paper 2, Variant 2
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Questions Discovered
55