(a) Give four reasons why countries engage in world trade
(b) How have these reasons affected the volume of trade between Nigeria and her neighbouring countries?
(C)(i) Name any two sea routes through which Nigeria trades with the outside world
(ii) Indicate one commodity that Nigeria engages exports through each route
(a) Four reasons why countries engage in world trade:
(i) Uneven distribution of natural resources, e.g minerals
(ii) Differences in climate resulting in production of different crops in different countries
(iii) The need to generate foreign exchange
(iv) Differences in technical know-how and expertise for the production of mechanised goods a electronics.
(b) (i) Minerals which are not found in Nigeria are imported from neighbouring countries while Nigeria exports her minerals like petroleum to others which do not have it
(ii) Due to differences in climate, some crops which cannot be grown in Nigeria are imported while those that can be grown are exported. But because Nigeria a her neighbours have almost the same climate, the volume of trade tends to be reduced
(iii) There is reduction of t volume of trade between Nigeria and her neighbours because they do not have the technical know-how to produce goods
(iii) Foreign exchange earnings between Nigeria and her neighbours is also very low because they produce almost the same types of goods or products.
(c)(i) Two sea routes through which Nigeria trades with outside wo are:
(a) South Atlantic route and
(b) The Cape route
(c)(ii) The commodity is petroleum (or crude oil)
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