Explanation

(a) Facilities of a good seaport:

(i) Should have deep water.

(ii) Should have clear channel.

(iii) Should be able to supply oil, water, food, electricity and communication facilities, etc.

(iv) Should have government offices for customs control, immigration, emigration, police security, quarantine centres, etc.

(v) Should have commercial premises like warehouses, refrigerator stores, elevators.

(vi) Should have dry docks, workshops and maintenance facilities.

(vii) Cranes and fork lifts for loading and offloading should be available.

(viii) Navigable aids like buoys, should be available.

(ix) Should have facilities for dredging.

(x) Should be easily accessible (good road and rail network).

(xi) Should have a good harbor.

(xii) Should have good terminals

(xiii) Should have good rescue facilities in case of mishap.

(b) Four importance of Transport to Commerce

(i) It extends and widens market for goods and services.

(ii) It encourages distribution of goods from where they are produced to where they are consumed.

(iii) It encourages specialization — as it allows the firm to concentrate on the main line of business.

(iv) It stimulates large scale production.

(v) It influences location of industries.

(vi) It helps to increase sales

(vii) It facilitates the movement of people and raw materials.

(viii) It facilitates mobile advertisement.

(ix) It creates jobs for people thereby increasing their purchasing power / standard of living.

(x) It makes available variety of goods on the market.

(xi) It promotes International trade.

Correct Answer: B. Primary production

Correct Answer: C. N100,000

Correct Answer: B. Madrid

Explanation

(a) Five functions of Chambers of Commerce:

(i) They assist the development of Commerce, trade and industry.

(ii) They provide support or oppose legislation which they feel will affect their members.

(iii) They provide information to members on their line of businesses.

(iv) They organize trade fairs, exhibitions etc. for the enhance-ment of commercial activities.

(v) They settle disputes among members.

(vi) They provide necessary information on legal, customs and other technical requirements of foreign countries to members.

(vii) They educate members on new techniques and new technology by organizing seminars.

(b) Five functions of Trade Association:

(i) They disseminate information to members.

(ii) They fix prices for their services or products.

(iii) They put political pressure on government for the interest of their members.

(iv) They settle disputes among members.

(v) They provide credit facilities and assistance to members.

(vi) They negotiate with other trade associations on collective basis.

(vii) They educate members on trade activities etc.

(viii) They draw up standard for the practice of their trade.

(ix) They carry out research and publish the report for members use.

Correct Answer: C. facilitate communication

Explanation

(a) An economic grouping is the coming together of different countries with common economic interests and goals to promote economic cooperation and development among member states.

(b) (I) Lake Chad Basin Commission: (1) To regulate the exploitation of the water resources of the Lake Chad (2) To survey the lake Chad development of irrigation systems of agriculture purposes (3) To harness and develop the water resources for electricity, crop, livestock and fish production. (4) To enhance the development of irrigation systems for agricultural purposes (5) To put control measures to deter pollution of the lake. (6) to ensure economic cooperation and development among member states (7) To promote regional integration and security. (8) To preserve the ecosystem of the Lake Chad.|

ii) ECOWAS: (I) To promote co-operation and development in all fields of economic activity (2) To raise the standard of living of the people (3) To increase and maintain economic stability in the sub-region (4) To have regional economic co-operation (5) To abolish obstacle to the free movement of persons, goods and services between member states (6) To harmonize monetary policies as required for the proper functioning of the community. (7) To maintain political stability in the event of crisis (8) To help promote international unity (9) To develop infrastructural schemes among member states

(c) Niger Basin Commission (1) To assist in the exploitation of the resources of the River Niger as well as its tributaries and sub tributaries. (2) To liaise with member countries in order to gather and disseminate information about the River Niger. (3) To consider plans and suggestions emanating from member states and make recommendations to members (4) To undertake surveys on how navigable the river Niger is (5) To streamline the construction of dams on the River Niger (6) To control flood and erosion on the River Niger.

Correct Answer: C. bonded warehouse

Correct Answer: D. a consortium

Correct Answer: C. Spot cash