Correct Answer: C. Transfer of ownership from government to individuals

Explanation

(a) Benefits derived by Nigeria for engaging in International trade are:

(i) It leads to specialization: Through international trade, a country can obtain those things that it cannot produce. There is international division of labour or specialization as every country tends to produce what she has comparative advantage in.

(ii) Expansion of world market: Goods are sold in other countries where they are needed.

(iii) Increase in standard of living: The standard of living of the people is increased through international trade e.g in Nigeria, importation of electronics, cars and computers have improved our living standard.

(iv) Equitable re-distribution of natural resources: Resources from one country may be beneficial to another country.

(v) It fosters friendly relations among countries.

(vi) Economic development: The poorer countries benefit from advanced countries through international trade and this leads to economic development.

(vii) It creates employment opportunities: This trade attracts foreign investors who may establish firms in other countries that will offer employment opportunities to the people.

(b) Problems likely to be faced by a business man who wants to sell his goods overseas are:

(i) Distance: The relatively great distance between the countries may delay trade.

(ii) Language: Differences in language create communication barriers and impede foreign trade.

(iii) Currency problem: Another problem likely to be faced is currency problem. Foreign exchange conversion will impede the flow of goods.

(iv) Political problem: Differences in political opinion and ideologies cripple free flow of goods between countries of the world.

(v) Artificial barriers: The introduction of high import duties, license or outright ban may affect international trade.

(vi) Climatic problem: The harsh climatic condition of a country can drive away foreigners, e.g African nations with high temperature.

(vii) Cultural problems: The numerous customs and traditions of a country can keep away foreigners.

Correct Answer: C. buying and selling

Correct Answer: C. general enquiry

Correct Answer: C. buying, selling, labelling and promotion

Correct Answer: D. chain store

Correct Answer: C. a factor

Correct Answer: C) 6 months

Explanation

In this question, we are asked about the lifespan of a cheque that is drawn but not presented immediately for payment. The lifespan refers to the period of time during which the cheque can be presented for payment.

The correct option is C, which says that the lifespan of a cheque that is drawn but not presented immediately for payment is 6 months. This means that the person or business who receives the cheque has up to 6 months to deposit or cash it at their bank. After 6 months, the cheque may no longer be valid and the bank may refuse to honor it.

It's important to note that the lifespan of a cheque can vary depending on the country and banking regulations. In some countries, the lifespan may be shorter or longer than 6 months. Therefore, it's always a good idea to check with your bank or consult the relevant banking regulations in your country to know the exact lifespan of a cheque.

To summarize, the lifespan of a cheque that is drawn but not presented immediately for payment is 6 months.

Correct Answer: C. double coincidence of wants

Correct Answer: D. techonolgical environment of business