Ethiopia's Import Partners Quiz

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Questions and Answers

Which country accounted for the highest share of Ethiopia's exports to Africa?

  • Sudan
  • Djibouti
  • Kenya
  • Somalia (correct)

What was the percentage of Ethiopia's export earnings from Nigeria to Africa?

  • 6.6 percent
  • 1.4 percent
  • 2.2 percent (correct)
  • 4.1 percent

Which region accounted for the highest percentage of Ethiopia's total imports?

  • Europe
  • America
  • Asia (correct)
  • Africa

What percentage of Ethiopia's imports came from Turkey in Europe?

<p>17.1 percent (D)</p> Signup and view all the answers

Which country had the highest share in Ethiopia's exports to America?

<p>United States (C)</p> Signup and view all the answers

What was the combined share of China, Kuwait, and India in Ethiopia's total imports from Asia?

<p>70.0 percent (D)</p> Signup and view all the answers

What percentage of Ethiopia's total imports from America was made up by the United States?

<p>96.2 percent (D)</p> Signup and view all the answers

Which African country was the largest contributor to Ethiopia's total merchandise imports from the continent?

<p>South Africa (B)</p> Signup and view all the answers

Which major import items were sourced from China?

<p>Clothing and textiles (B)</p> Signup and view all the answers

What constituted the bulk of imports from India?

<p>Metal and metal manufacturing goods (B)</p> Signup and view all the answers

Which region accounted for the largest share of Ethiopia's total merchandise imports?

<p>Europe (C)</p> Signup and view all the answers

What can the government do to limit or avoid the import of some goods?

<p>Implement exchange control measures (B)</p> Signup and view all the answers

Which of the following is NOT a mode of payment in international trade?

<p>Credit card payment (A)</p> Signup and view all the answers

What is a Bill of exchange in international trade similar to?

<p>Checks (D)</p> Signup and view all the answers

In international trade, what does a Letter of Credit (LC) address?

<p>A banker to an exporter (C)</p> Signup and view all the answers

Which document in a Letter of Credit specifies the nature, unit price, and total price of the goods?

<p>Shipment document (C)</p> Signup and view all the answers

What does a Bill of exchange require the debtor or buyer to do?

<p>Pay a certain sum of money at a specified time (C)</p> Signup and view all the answers

What is an example of a direct tax mentioned in the text?

<p>Personal income tax (A)</p> Signup and view all the answers

Which tax is imposed on the passing of property title from one entity to another?

<p>Transfer tax (D)</p> Signup and view all the answers

What does corporate tax mainly target?

<p>Profits made by companies (D)</p> Signup and view all the answers

When does an inheritance tax apply according to the text?

<p>On the death of an individual (D)</p> Signup and view all the answers

Which type of tax is imposed on dividend payments to a company's stockholders?

<p>Tax on dividends (A)</p> Signup and view all the answers

Who pays a direct tax based on their profit from business activities in the text?

<p>Business enterprises (C)</p> Signup and view all the answers

What is the tax rate on interest income from deposits?

<p>5% (D)</p> Signup and view all the answers

Which of the following taxes is paid by the consumer as part of the market price?

<p>Sales tax (B)</p> Signup and view all the answers

What is the main difference between Turnover tax (TOT) and VAT?

<p>Annual taxable transaction limit (B)</p> Signup and view all the answers

Which tax is imposed on the payer to withhold tax from payments and submit it to the government?

<p>Withholding tax (C)</p> Signup and view all the answers

What type of tax is Stamp duty?

<p>Indirect tax (C)</p> Signup and view all the answers

Which of the following taxes is based on the increase in value or price of a product at each stage of its manufacture and distribution?

<p>Value added tax (VAT) (B)</p> Signup and view all the answers

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