Theory question 106
Introduction to CommerceCommerce 2 (essay)
Explain five factors that adversely affect the growth of commerce in West Africa
Show the model answer
Model answer
Any five, explained: poor transport and road network; poor communication facilities; inadequate banking and finance (low credit); low level of education and illiteracy; political instability; inadequate power supply and infrastructure; low income and low purchasing power; inadequate storage facilities; insecurity and armed robbery; bribery and corruption; government restrictions and multiple taxes; poor attitude to insurance.
Explanation
Say how each factor slows down trade.