Correct Answer: D. 2 million people per square kilometre

Correct Answer: C. normal goods

Explanation

(a)(i) Peasant farming: A system of agriculture in which the farms are small and owned by individual families. The farms are often run below an economically efficient size. (ii) Commercial farming: This is a system of agriculture characterized by large expanse of land holdings with production solely for the market. It involves the usage of huge capital, mechanization and processing of raw materials.

(iii) State farming: This is a system of agriculture in which the state, through its agencies, engages in large scale farming for both local and foreign markets.

(b)Commercial farming contributes to development in the following ways:

(i) It will make available more raw materials for agro-based industries.

(ii) With increases in the production of export crops, the country's foreign exchange earnings will increase.

(iii) Commercial farming tends to be capital intensive. It will therefore increase the capital stock of the country.

(iv) If the increase in output covers food crops hitherto imported, foreign exchange will be conserved.

(v) There will be an increase in the GDP and the standard of living will rise. (vi) Commercial farming will employ a large number of people thereby reducing unemployment.

Correct Answer: C. them to choose between alternative since they cannot meet all their wants

Explanation

(a) National or public debt is the debt a country owes to its citizens or other countries or organisations such as International Monetary Fund and the World Bank. The debt which a country owes its citizens is known as internal debt, while the debt owed foreign governments and organisations is known as external debt.

(b) Instruments of government borrowing in Nigeria are:

(i) Treasury certificate:These are securities for medium term borrowing. They are for a period of one to two years and they carry higher rate of interest than treasury bills.

(ii) Treasury bills: These are securities used for short-term borrowing for about 90 days. This carries low rate of interest.

(iii) Development stock:These are referred to as government stock and they are used for long-term borrowing of up to five years and above.

(iv)Negotiations: The government can borrow from external financial institutions

(v) National savings scheme.

Correct Answer: D. commercial banks

Correct Answer: D. Equipment

Explanation

The answer is equipment. Working capital is the difference between a company's current assets and current liabilities. Current assets are those that can be converted into cash within a year, such as cash, accounts receivable, and inventory. Current liabilities are those that are due within a year, such as accounts payable and accrued expenses.

Correct Answer: D. poor transportation and communication system

Explanation

(a) Means is the average of a series of figures or values. It is obtained by dividing the sum of these figures by the total number of the figures or values. It is also the average of a collection of observation.

(ii) The median is an average which is the middle value when figures are arranged in order of magnitude. In an even distribution the median is the average of the two middle numbers.

(iii) Mode is a measure of central tendency. It tells us the observation which is most popular, that is, the most frequently occurring value in a distribution. From the following observations 1, 3, 4, 3, 5, 3, mode is 3

(b) Mean = \(\frac{21 +22+23+23+23+24+24+25+26+27+28+29+30+31+34} {15}\)

= \(\frac{390} {15}\) =26

median: 21, 22, 23, 23, 23, 24, 24, 25 26, 27, 28, 29, 30, 31, 34, = 25

Mode = 23

Correct Answer: C. wage