International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services.
Due to long distance between different countries, it is difficult to establish quick and close trade contacts between traders.
(ii) Different languages:
Different languages are spoken and written in different countries. Price lists and catalogs are prepared in foreign languages.
(iii) Difficulty in transportation and communication:
Dispatch and receipt of goods takes a longer time and involves considerable expenses. During the war and natural calamities, transportation of goods becomes even more difficult.
(iv) Risk in transit:
Foreign trade involves much greater risk than home trade. Goods have to be transported over long distances and they are exposed to perils of the sea. Many of these risks can be covered through marine insurance but increases the cost of goods.
(v) Lack of information about foreign businessmen:
In the absence of direct and close relationship between buyers and sellers, special steps are necessary to verify the creditworthiness of foreign buyers.
(vi) Problems in payments:
Every country has its own currency and the rate at which one currency can be exchanged for another (called exchange rate) keeps on fluctuating change in exchange rate create additional risk.
[Pick any two]
(i) Creation of duty drawback schemes.
(ii) Increasing the availability of credit.
(iii) Simplifying regulation
(iv) Improving cooperation among economic actors.
(v) Combining short-term and long-term export growth policies.
(i) Skilled labour
(ii) Widespread poverty
(iii) Demand for industrial goods in Nigeria
(iv) Supply of raw materials
(v) Infrastructural facilities
(vi) Capital to invest
(i) Availability of raw material
A population census is the total process of collecting, compiling, evaluating, analyzing and publishing or otherwise disseminating demographic, economic and social data pertaining, at a specified time, to all persons in a country or in a well delimited part of a country.
(i) Under-population is when a region or country has insufficient workers to exploit their resources efficiently, to support retired populations and to provide growth
(ii) Population density is a measurement of population per unit area, or exceptionally unit volume; it is a quantity of type number density.
(iii) optimum population is a concept where the human population is able to balance maintaining a maximum population size with optimal standards of living for all people.
(iv) Overpopulation refers to a population which exceeds its sustainable size within a particular environment or habitat. Therefore, overpopulation describes a situation in which a population in a given ecosystem limit the resources available for survival.