Explanation

(a)Nationalisation; is a deliberate policy by which governments take over the control and ownership of private enterprises due to economic, political, social or strategic reasons.

(b)Commercialisation; is a policy geared towards making state owned enterprises to become more efficient and profit oriented. The policy makes it possible for public enterprises to become more viable and effective.

(c)Privatization; is a policy designed to enable individuals and private or corporate organizations take over the owner-ship and control of government businesses such as public companies and corporations.

(d)Indigenisation; is the process through the use of law in which indigenes of a country are made to participate actively or to take control of the commercial, industrial and other sectors of the economy.

(e) Joint ventures;are those businesses in which private investors and governments are in partnerships.

Correct Answer: D. both equilibrium price and quantity will remain unchanged

Explanation

If there is an increase in supply while the demand tends to remain the same, prices will most likely fall. So an increase in the supply of fish in the market will only affect the demand and price of the fish as they may be more fish in the market than people who are willing and ready to buy the fish. This, however, will not affect the prices or the quantity demanded of meat.

Correct Answer: C. existing shares

Correct Answer: C. minimum of seven and no maximum number

Explanation

In order for a company to be public , it should have a minimum of 7 members (maximum unlimited). Limited liability: The liability of a public company is limited. No shareholder is individually liable for the payment

Correct Answer: D. An increase in price

Correct Answer: C. quotas

Explanation

quotas; a limited quantity of a particular product which under official controls can be produced, exported, or imported.

Correct Answer: B. Surplus occurs

Explanation

A minimum price is when the government doesn't allow prices to go below a certain level. At this point, suppliers will be willing to supply more in the market because they are certain to sell above a particular price. This will lead to a surplus in the market. The minimum price policy has been used in agriculture to increase farmers' income.

Correct Answer: C. Decrease, depreciation

Explanation

Currency depreciation is a fall in the value of a currency in a floating exchange rate system. Therefore, a decrease in the price of the domestic currency in terms of a foreign currency is referred to as depreciation.

Explanation

(a )A partnership is a form of business organization in which between two and twenty individuals enter into an agreement, to run a business.

(b) Advantages of a partnership are.

(i) Individuals pooling resources together can generate more capital.

(ii) It is easier to specialize, since each of the partners may bring different skills and expertise Into the business.

(iii) Two heads are better than one and so decisions could be more rational.

(vi) Where there are many partners, the death of one of the partners may not mean the end of the business.

(v) Privacy in conducting business.

Disadvantages are:

(l) Capital is still relatively limited as it cannot float shares. Capital depends mainly on the resources of the partners.

(ii) Decision making is difficult as the partners sometimes disagree.

(iii) Depending on the number of partners, the death of one partner may result in the collapse of the business

(iv) When there is a debt the partners may lose not on y the capital they have invested in the business but other properties as well Liability is unlimited.

(v) It is not a legal entity

(vi) The activities of one partner may ruin the organization.

Correct Answer: A. labour