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Question 5
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(a) (i) what is internal trade?
(ii) Name four commodities involved in internal trade in Nigeria.
(b) Highlight four factors that encourage internal trade in Nigeria.
(c) Outline three problems limiting internal trade in Nigeria. |
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This question was popular among the candidates and was well treated by most of those who answered the question. However, some of the candidates could not properly point out the factors that encourage internal trade in Nigeria. The factors that encourage internal trade in Nigeria are:
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differences in products between regions
- government encouragement
- good transportation network
- differences in climate between regions
- fertile soil
- wide market/demand
- common currency
- presence of different minerals in different places
- differences in technology from place to place
- bank loans /credit facilities
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