Correct Answer: A. authority

Explanation

The term authority is often used for power that is perceived as legitimate by the social structure.

Explanation

The difference between National Income and Personal Income is that:

(a) Personal income is the amount of money received by individuals or households over a given period of time received by individuals or household over a given period. While National income is the money value of the total volume of goods and services produced or the total income earned in a given country over a period of time, usually a year.

(b)Uses of National Income data are as follows:

(i)Economic planning: It provides basic and comprehensive data on the contribution of various sectors of the economy to national output.

(ii)Influences foreign investors: It attracts foreign investment to a country, based on the level of its national income, as investors usually seek countries with rich or fast growing markets

(iii)Assessment of economic performance: The national income statistics are used in assessing the performance of the economy, in other to know the effectiveness or utilization of the productive resources.

(iv) Measurement of standard of living: It shows the general level and prosperity of the people over a given period of time, usually a year.

(v)Redistribution of income: It enables governments to design policy towards redistributing national income and the allocation of resources and revenue among

sectors, within the nation

(vi)Index for classification: It is used for classifying nations into the developed nations and the developing ones in respect of their standard of living

(vii)Estimation of Assets and liabilities: It is also used to estimate the liabilities and assets of nations.

(viii) It equally determines the level of contribution into the international organizations as countries with more per capital income are expected to contribute

more than the poor ones.

(ix) It can also be used as the basis of supply of technical aid and assistance to the needy countries. The international organizations tends to give more technical assistance to poorer nations and this is usually identified by comparing the per capital income of nations.

Correct Answer: B. X and C

Correct Answer: B. falls as it price rises

Correct Answer: C. Gideon

Correct Answer: B. consumer

Correct Answer: A. was the Messiah

Correct Answer: B. credited to partners' current account

Correct Answer: C. #6,174

Explanation

(a)Services provide by NIPOST include:

(i) Business reply service: A firm may save the recipients of its letters the cost of replying them by providing them with printed reply cards which do not require to be stamped. The firms are charged for :he postage fee as well as extra charges for services rendered.

(ii) Express delivery: For an extra fee by way of additional stamps, a letter may be labelled express and given a priority service by having it delivered directly as soon as it arrives at :he post office nearest to the addressee. This priority makes it possible for express letters to arrive at their destinations faster than ordinary letters.

(iii) Poste restante: Post restante facilities enables letters belonging to visitors to a :own to be left in the care of the post office by having such letters addressed to the post office. This facility may be used by visitors, tourist for a while until he gets a permanent address or leaves the town.

(iv) Cash on Delivery: This is a service under which the post man collects money on behalf of the seller from a customer after he has delivered the parcel ordered through post to him. In return for this service the post office charges a fee known as the trade charge. Cash on delivery services are usually rendered to assist mail order business,

(v) Recorded delivery: A recorded delivery gives a proof that a letter has been delivered and the sender is compensated in the event of loss. This service is suitable for sending important documents.

(b) Importance of Communication to Commerce are:

(i) It has made it possible for docu-ments, parcels to be transferred safely and quickly.

(ii) Telex services have made it possible for people to send written message at fastest rates.

(iii) The use of telegraphic money transfer has helped to lessen the problem of international indebtedness.

(iv) It provides means of sending and receiving of business information at faster rates.

(v) Communication has changed the world into a global village because business transactions can be concluded at any part of the world without being physically present.

(vi) Firms engaging in mail order business are now able to cope with the demands of customers far and near because the post office makes it possible to get customers' orders to them in the comfort of their homes.