This question was very popular among the candidates many of whom scored relatively high marks. Candidates were required to define international trade, explain embargo and quota as barriers to trade and to identify any four reasons countries engage in international trade.
Most Candidates that attempted this question were able to clearly define international trade but only few could explain embargo, quota and expatiate on their points in the (b) and (c) part of the question.

The candidates were expected to answer thus:

1.             International trade is the exchange of goods and services between or among           different countries.

(b)        (i)         Embargo     -   This is a complete ban on the importation and exportation  of                                                          a commodity.                                                             
            (ii)        Quota          -   This refers to the specification of the quantity of a commodity                                                         to be imported into or exported from a country.

(c)        Reasons or Basis for International trade

      No self-sufficiency

                        Every country has one or some goods it cannot produce locally.  There is
                        therefore the need to trade with other countries.

Uneven distribution of resources/Differences in resource endowment

There is unequal distribution of resources among the nations  of the world.  As a
result, while some nations have abundant supply of resources such as gold, crude oil, diamond and others, some countries have limited supply or none.  Due to this, trade must take place.

Differences in climatic conditions

Some crops thrive well in certain areas whiles others cannot thrive well in other countries.  For this reason, some crops are not grown in certain areas.  Therefore, there is the need for trade to enable countries enjoy fruits or crops which they cannot produce.

To enjoy the benefits of international trade e.g. access to larger market, variety of goods, etc.

Differences in taste and preferences.

This explains why a country imports goods she can produce locally e.g. textiles, rice, etc.

Differences in skills.

A country may develop special skills in the production of certain goods. e.g
leather works and kente in Ghana.

Differences in technology.

Countries with a higher level of technology tend to produce more industrial goods leading to international trade.

Differences in soil conditions.

To generate foreign exchange.