Correct Answer: B. purchase tax

Explanation

Problems of distribution in Nigeria are:

(I) Inadequate infrastructural facilities: Facilities like electricity, telecommunication are not adequate.

(ii) Inadequate storage facilities/warehouse: This especially affects perishable products which come seasonally. During harvests, there is excess supply of these products, but there is scarcity as soon as the excess is over.

(iii) Hoarding and speculation in Nigeria:The traders can create artificial scarcity for some commodities especially during festive periods such as Christmas and Ramadan. Artificial scar-city can also occur as a result of change in government policies. This disrupts the distributive process and increases prices unnecessarily.

(iv) Packaging problems:The packaging of goods is not standardized. This may result in damage or loss in transit.

(v) Inadequate transport facilities: The poor transport system also affects commodity distribution and marketing in the country. The roads are so bad that commodities sustain great damage due to accidents.

(vi) Long chain of distribution:There are too many middlemen. The numerous links along the chain of distribution make the price of commodities to increase considerably.

(vii) Insecurity on Nigerian roads: Distribution is affected as a result of the activities of armed bandits on the road.

(viii) Administrative bottle-necks in the collection and handling of goods: Excessive delay in the supply and delivery of commodities is a common feature in the Nigerian distribution system. Processing of necessary papers at supply point or depots causes considerable loss of time.

Correct Answer: B. distrust among members

Explanation

Distrust among partners often stems from poor communication, leading to suspicion when none is warranted. This often lead to serious disagreement that may eventually end the partnership.

Correct Answer: D. consumer

Explanation

Government has done the following to encourage industrialization in Nigeria:

(i) There are better system of road networks, especially the express roads, efficient telecommunications, electricity and water supply system.

(ii) The federal government gives tax concession to pioneer industries for a specified number of years during which the company will not pay tax.

(iii) The government protects infant industries through high import duties, outright ban or placement of quotas on imported commodities which compete with those of home industries.

(iv) The government has also established industrial estates and thus reduced the problem of locating industries in urban towns.

(v)The Nigerian Enterprise Promotion Decree of 1972 was an attempt by the Federal Military Government to transfer part of the profits generated in Nigeria to the local people.

(vi) The government has established financial institutions to aid private enterprises, e.g. Nigeria Bank for Commerce and Industry and Nigerian Industrial Bank.

(vii) The development of human resources through the establishment of universities and colleges of technology

viii) Relax-ing of industrial laws such as the indigenization policy

(ix) Nigeria undertakes development plans aimed at control-ling resources allocation.

(x) Increase of industrial loans which have enabled more business men to obtain loans and establish more industries.

Explanation

(a) The Gross National Product (GNP) is the total money value of all the goods and services produced in a country in a year plus the net income from abroad.

(b)(i) Income Method: Measures all incomes earned by the various factors of production, for example wage and salary + rents + profits or dividends + interest.

(ii) Expenditure method: Measures the total expenditure on currently produced final goods and services by the households, firms and government plus net export. Y=C+I G+ (X - M)

(iii) Output of Net Product or Value-added Method:Measures the total monetary value of all goods and services produced by various sectors of the economy. In this method, the value of net contribution of each sector is added.

Correct Answer: D. the quantity demand differs from the quantity supplied

Correct Answer: D. bank sellers

Correct Answer: D) limitations in available resources

Explanation

In Economics, problems arise due to various reasons. The given question asks about the main reason behind these problems. It presents four options, among which we need to select the correct one.

Option A suggests that inaccurate statistical data leads to economic problems. However, this is not the main reason behind such problems.

Option B states that excessive wastage of available resources results in economic problems. While this is a problem, it is not the main reason behind economic problems either.

Option C implies that a lack of foresight on the part of resource users causes economic problems. Again, this is not the main reason behind these problems.

Option D correctly states that the main reason behind economic problems is the limitations in available resources. This means that when resources are limited, it becomes difficult to fulfill the ever-increasing demands of consumers, which leads to economic problems.

Therefore, Option D is the correct answer to the given question. It is important to note that economics problems arise due to various factors, and resource limitation is just one of them. Understanding these factors is critical to solving economic problems and ensuring economic growth.

Correct Answer: C. external factors