Theory question 104
Transport, Trade and Tourism(a) What is internal trade? (b) Outline five problems limiting internal trade in Nigeria. (c) Identify four importance of internal trade in Nigeria.
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(a) Internal trade is the buying and selling of goods and services within the borders of a country.
(b) Poor roads and transport; insecurity (robbery, kidnapping); multiple taxes and road blocks; poor storage and preservation facilities; inadequate capital and credit; similarity of products in many areas; poor communication and market information; low purchasing power; inflation and unstable prices.
(c) Brings goods from areas of surplus to areas of need; encourages specialisation in production; creates jobs; raises government revenue; promotes growth of towns and markets; promotes national unity and exchange of ideas.
Define first, then list.