World Trade

Question 1

The main division of international trade is

Answer 1

Import trade and Export trade

Question 2

Importance of trade

Answer 2

Provision of foreign exchange,international cooperation,provision of new products,Growth of ancillary services

Question 3

The main factors which determines the level of international trade is

Answer 3

Difference is tech,climate,agriculture,,Colonial tirs(e.g between nigeria and britain)

Question 4

Reasons for high volume of trade bewteen Nigeria and developed countries is that

Answer 4

Non similarity of products difference in climate,difference in import duties,high level of tech

Question 5

The main reason nigeria doesn’t trade with ither west african countries is

Answer 5

Their similarity in everything and low level or transportation and savings

Question 6

The busiest route in the world is

Answer 6

North atlantic route

Question 7

Lagso Rotterdam,Hamburg,South hampton,Antwerp

Answer 7

Netherland,Germany,Britain,Belgium

Question 8

The routes with which Lagos transports goods to north and South America is the

Answer 8

South Atlantic route

Question 9

Nigeria trades with the south east through the

Answer 9

South Atlantic route

Question 10

Nigerias major exports is

Answer 10

Agricultural and mineral products