Social Studies review 2

How many basic types of environments do we have

• 2

• 3

• 4

• 5

______is the act of buying and selling goods and services between people or states within a country or local markets.

• Domestic trade

• Foreign Trade

• International trade

• People trade

One of these is the importance of trade in Nigeria

• It makes us value foreign currency more than our own

• It helps the final Consumer get goods

• It makes greedy people rich

• It is a means of selling bad and rotten products

Foreign trade can be classified into

• import, export, and entry port trade

• Local, atlantic, and Trans atlantictrade

• Air, Water and Land

• physical, social and environmental

One of these is not an aid to trade

• High Cost of living

• Banking

• Advertisement

• Communication

The role of Custom and Excise in foreign trade includes the following, except______.

• Preventing illegal or smuggling goods.

• Generating income for the government.

• Preventing importation of banned goods.

• Collecting bribe from importers

One of these is not a type of method for savings or resource preservation.

• 1.  cooperatives

• 1. Thrift and credit

• Sugar Daddy

• 1. insurance companies

One of these is not a type of Bank we have in Nigeria

• Commercial bank

• Mortgage bank

• Piggy Bank

• Merchant bank

One of these can be saved in the bank

• Vegetable

• Yam

• Certificate

• Clothes

When we keep things for the future, we are _____ it.

• Protecting

• Keeping

• Preserving

• NOTA