Correct Answer: C. denouement

Explanation

(a) The Importance of Public Service in Nigeria;

i. It advices in the formulation of policies of government

ii. It represents government in meeting/conferences

iii. It helps in documentation and record keeping

iv. It helps in public enlightenment/education

v. It implements government policies

vi. It creates employment opportunities

vii. It conducts research for government business

viii. It ensures continuity in governance

ix. It provides essential services at cheaper rates

x. It performs delegated/legislative functions

(b) Ways Public Service can be improved;

i. Training and re-training

ii. Value re-orientation

iii. Political education

iv. Job security

v. Freedom of information

vi. press control

vii. Use of code of conduct bureau

viii. war against corruption in public places

ix. Inculcation of discipline in the public service

x. Ombudsman/public complaint commission

Explanation

Distinction between a perfect market and a monopolistic market are:

(i) A perfect market is characterized by many buyers and sellers while in a monopoly market, there is only one or single producer or supplier of a particular commodity and many buyers.

(ii) In a perfect market, price and quantity are determined by the interaction of the Pri forces of demand and supply whereas in a monopoly market, price and quantity are determined by the producer, i.e., the producer has the power to influence either price or output in his favour.

(iii) There is free entry as well as exit in a perfect market while entry and exit are restricted in the monopoly.

(iv) Monopolists are able to discriminate due to different elasticities of demand for their products in different markets whereas this is absent in a perfect market because there is perfect elasticity of demand.

(v) There is homogeneity of products in a perfect market while in a monopolistic market this is not so.

(vi) There is under utilization of resources under monopoly and duplication of resources under perfect competition.

(vii) In a perfect competition there is perfect knowledge of the market situation whereas it is not true of monopoly.

(viii) The equilibrium level in a perfect competition is where MC = MR = P whereas in a monopoly, price is higher than MC and MR.

Correct Answer: D. air pollution

Correct Answer: A. impression

Explanation

a. Factors to be considered by Mr. Touray in locating his shop

(i)Availability of capital:He must consider the amount of money at his disposal for payment of rent, fixtures and stocking of the products.

(ii)Nearness to customers:He must locate his shop where there is demand for his goods.

(iii)Sources of supply of products - The location his shop should be very close to where he can obtain goods with ease.

(iv)Nature of goods: The nature of goods is equally important whether it will be for example, Children's items or foodstuff.

(v)Level of competition:He should consider the number of other traders in the same line of business in the location.

(vi)Accessibility: He should consider the availability of accessible roads to his business premises.

(vii)Government policy: He should consider government policy if any, with regards to location of such business.

(viii) Availability of infrastructure: He should consider the availability of infrastructure such as water and electricity to support the business.

b. Ways a wholesaler can aid Mr. Touray business

(i) All information and advice about the goods and services are gathered from the producers by the wholesalers and then forwarded to Mr. Touray.

(ii) The wholesaler could create awareness of the goods by advertising them and engaging in sales promotion on behalf of Mr. Touray.

(iii) The wholesaler could help Mr. Touray by stocking varieties of goods produced or bought from different manufactures.

(iv) The wholesaler will buy in large quantity and sell in small units to Mr. Touray.

(v) The wholesaler could grant credit facilities to Mr. Touray in order to enable him stock assorted goods at a time.

(vi) The sorting, grading and packaging of goods could be done by the wholesaler to facilitate Mr. Touray's purchases.

(vii) The wholesaler could convey goods to Mr. Touray's shop at no extra cost.

(viii) By storing the goods in the warehouses for some time, this helps to stabilize prices to the advantage of Mr. Touray.

(ix) The wholesaler could sell at a discount to encourage him to buy more and make profit.

Correct Answer: C. Central Bank of Nigeria

Correct Answer: C. go

Correct Answer: C. good government planning

Explanation

Good planning by the government helps to reduce unemployment.

Correct Answer: C. at-Tin