Correct Answer: B. a requisition

Correct Answer: D. standard organisation act

Explanation

Standards Organisation of Nigeria is a federal government parastatal, established with the sole aim of maintaining standard in manufactured products. The Standards Organization of Nigeria statutory function include, the development and enforcement of product and process standards

Correct Answer: A. #50,000.00

Correct Answer: A. organizational behaviour

Correct Answer: B. vertical integration

Correct Answer: A. employee

Correct Answer: D. warehousing

Explanation

(a) Measure to restrict imports are:

(i) Import quota: quotas fix the maximum quantity of goods that can be imported in a year.

(ii) Foreign exchange control: Strict control of foreign exchange, restricts importation of goods.

(iii) Imposition of embargo: Importation of certain goods are banned by the government.

(iv) Import licences: Certain goods are placed on licence. These goods cannot be imported without first obtaining a licence.

(v) Tariffs: Import duty can be imposed on goods from other countries.

(b) Measures to promote exports are:

(i) Reduction of export duties.

(ii) Devaluation of local currency in order to make exports cheaper.

(iii) Establishment of new and improvement of the existing sea and airport facilities.

(iv) Offering Credit facilities to exporters.

(v) Export promotion agency will be set up to direct and encourage intending exporters.

(vi) Establishment and improvement of communication facilities.

Explanation

(a) The business resources are: (i) Money resources (ii) Materials resources (iii) Management (iv) Opportunities

(I) Money resources: Money includes all the working capital available to a business. Money is important because, without it, a business cannot take off. It can be obtained by borrowing, selling shares, etc.

(ii) Material resources. Materials include tools, machinery, equipment, etc used in business. The money resources that are turned into mate rials help the business to operate economically and efficiently.

(iii) Management resources: Management is the resources of business which plans, organizes, directs and controls the operation of the business enterprise. It is also referred to as human resources.

(iv) Opportunities: These include facilities within the environment that are beneficial to the business. These are roads, electricity, telephone services, etc.

(b) Four ways by which government regulates business are:

(i) All business units must be duly registered before they can commence business .

(ii) Business can be regulated through granting of patent right, copyright and trade mark for companies.

(iii) The government ensures the use of standard weights and measures for products.

(iv) The location of a business is approved by the government.

(v) Government approves importation and exportation by the public.

(iv) The Government imposes tax on the profit of business enterprises.

(vii) Business enterprises are compelled to publish their accounts for public consumption.

Correct Answer: C. primary industries