Correct Answer: D. they render personalized service to the consumers

Explanation

Small scale enterprises are important as they offer personalized customer service. These servoces refers to delivering customized services that cater to the exact needs and wants of the customer.

Correct Answer: B. accepts deposits from the public

Explanation

Commercial banks serve individuals and businesses, while central banks serve the country's banking system. They provide money transfers back and forth between banks and governmental institutions both domestically and in cases of transactions with foreign entities. the major difference here is that, the central bank is the government bank and serves the country in a whole while commercial banks accepts deposit from the public

Correct Answer: B. Cost push inflation

Explanation

Cost push inflation occurs when overall prices increase(inflation) due to increases in the cost of wages and raw materials. It can also occur when higher costs of production decrease the aggregate supply in the economy.

Explanation

(a) Economic integration is the deliberate act of governments to pool their economic resources together in order to achieve a greater efficiency in the production of goods and services for the social and economic welfare of their countries. Countries with common interests form themselves into an organisation whose major objectives are to remove trade barriers and other obstacles that reduce the free flow of services between them e.g. ECOWAS, EEC/EU, etc.

(b) The characteristics of a customs union are:

(i) Tariffs are abolished.

(ii) Each member country is given free hand to maintain its custom duties and tariffs against non-member countries.

(iii) All trade restrictions are abolished.

(iv) The.members may agree on common custom duties and tariffs against any non-member country.

Correct Answer: B. less than average variable cost

Explanation

Health sector = \(\frac{30}{100} \times \frac{360°}{1}\) = 108º

Education sector = \(\frac{25}{100} \times \frac{360º}{1}\) = 90°

Housing sector = \(\frac{15}{100} \times \frac{360º}{1}\) = 54°

Manufacturing sector= \(\frac{10}{100} \times \frac{360º}{1}\) = 36

Agricultural sector = \(\frac{20}{100} \times \frac{360º}{1}\) = 72°

Correct Answer: C. Output

Explanation

An isoquant curve is the combination of labour and capital which shows the same output i.e labour and capital = Product.

Correct Answer: C. market forces and government determine interest and exchange rates

Correct Answer: A. linear

Correct Answer: C. Donation to specific projects