Correct Answer: B. political consideration

Correct Answer: A. public ownership and control

Correct Answer: A. primary product

Explanation

The economies of West African Countries depend majorly on primary products. Primary products refer to goods that are available from cultivating plants or by extracting minerals from the earth. These include agricultural products, mining products, and other raw materials. West African countries like Nigeria, Ghana, and Ivory Coast are known for their export of primary products like oil, cocoa, and gold respectively.

Correct Answer: A. objective

Explanation

There are four principles given by Adam Smith which include equality/ability to pay, economy, convenience and certainty. Objective is not a canon of taxation

Explanation

Problems encountered by the middlemen in carrying out their duties are :

(i) Inadequate storage facilities: The absence of or inadequacy of storage facilities has created problems in the distribution process and has led to fluctuations in prices.

(ii) Poor transportation and communication systems:Most products come from the fields in the rural areas which are not easily accessible. These products are in their primary condition and are perishable.

(iii) Large number of middlemen: As a particular product passes from one middle man to another, arise in the price of the product is expected. This means that the price of the product will have risen to a very high level by the time it gets to the final consumer.

(iv) Inadequate information: The producers, sellers and buyers do not get adequate information regarding the prevailing market conditions.

(v) Insecurity on the roads: In recent times, our roads have been made unsafe by armed bandits. This has seriously affected distribution of goods in Nigeria.

(vi) Administrative bottle necks in the collection and handling of goods: This problem affects all manufactured and agricultural products. Processing supply papers takes unending hours and days. Corrupt offi-cials unduly delay their customers.

Explanation

Similarities between private limited Company and the public limited company are:

(i) Both have legal status.

(ii) They have limited liabilities.

(iii) There is continuity of existence.

(iv) There is large capital outlay.

(v) Powers are exercised through memorandum and Article of Association

(vi) Both companies may be voluntarily or compulsorily liquidated.

(v) Directors control the company.

Differences between Private limited company and Public limited company are:

Explanation

(a) Country Y's Population data

OR

(b)(i) Net Migration = immigrants — Emigrants

8 million — 4 million = 4 million

(ii) Total population in 1975 = 1970

population + Net Migrations + (number of births — number of deaths)

60 million + 4 million + (25 million — 3 million)

or

64 million + 22 million. = 86 million.

(c) Percentage increase

New population — old population x 100

Old population

86 million - 60 million x 100

60 million

26 x 100 = 43.33%

60

\(\frac{1200 x 100} {15,000 * 1}\) = 8% for B

Correct Answer: C. a movement along the supply curve

Correct Answer: D. Illiteracy

Correct Answer: C. Entry of new firms

Explanation

Factors Affecting the Supply of a Commodity i. Price of the given Commodity ii. Cost of Production: iii. Natural Conditions iv. State of Technology v. Transport Conditions vi. Factor Prices and their Availability vii. Government's Policies viii. Prices of Related Goods