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WAEC Economics 2001 Question 48

Question 48

International Trade

Which of the following is a major barrier to international trade?

  1. A.Religious differences amongst nations
  2. B.Uneven distribution of population across the world
  3. C.Educational imbalance between the developed and developing countries
  4. D.Ideological differences amongst nations.
Show the answer and explanation

Answer: D (Ideological differences amongst nations.)

Explanation

Differences in political and economic ideology (e.g. capitalist versus communist) lead to trade restrictions and embargoes.