Waec Model Questions Vol1 2019 Commerce Question 4
Practice essay / theory question 4 from the 2019 Waec Model Questions Vol1 Commerce examination. This question covers Foreign Trade .
Nigeria imports wheat and exports cocoa. In the first quarter of 2022 the following data were recorded: - Wheat imports: 200,000 tonnes at an average import price of ₦45,000 per tonne. - Cocoa exports: 150,000 tonnes at an average export price of ₦60,000 per tonne. - Exchange rate: beginning of quarter US$1 = ₦410, end of quarter US$1 = ₦420. - Tariff on wheat imports: 5 % of the import value. - Export duty on cocoa: 10 % of the export value. - Shipping and handling cost: ₦2,000 per tonne for both imports and exports. All transactions are settled in US dollars at the average of the beginning and end exchange rates. Answer the questions that follow.
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This is Waec Model Questions Vol1 2019 Commerce Question 4. It is one of the essay questions from the 2019 Waec Model Questions Vol1 Commerce examination.
The question covers Foreign Trade .
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