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JAMB Commerce 2004 Question 46

Question 46

Foreign Trade

International trade takes place as a result of

  1. A.uniformity in costs of production
  2. B.inequitable distribution of natural resources
  3. C.parity in the level of industrialization
  4. D.similarities in climatic conditions
Show the answer and explanation

Answer: B (inequitable distribution of natural resources)

Explanation

Countries have different natural resources, so each trades what it has for what it lacks.