Verified ECONOMICS OBJ:
1-10: DDDDBDACBC
11-20: DCBCAADCAB
21-30: BDBBBCCDDC
31-40: ABCACBBDBA
41-50: BCACACCACC(1a)
Balance of trade is 626300-620500 = 15800
(1b)
Balance on current account
Visible (reciept) 5200+ 400 = 56000
Invisible (reciept) 2500+22800+50000 =75300
total= 56000+75300 =131300
Visible (payments) 40000 + 8000 = 48000
Invisible(payments) 7500+7000+26000=40,000
total= 48000 + 40000=88500
Balnce on current account (131300 - 88500)= 42800
(1c) Balance of payment=
Visible = 52000+4000 = 56000
invisible = 40000 +8000 =48000
total= (Visible - invisible)= 56000-4800=8000
(1d)
Capital receipt
20000+254000+221000=495000
Capital Payment
5000+289000+238000=532000
= 495000-53200 =37000(5ai)
Public limited liability company is owned by minimum member of persons without maximum numbers whereas ownership of private limited liability company range from minimum number of two to maximum number of 50.
(5aii)The shares of a public limited liability company is issued to the members of the public directly on the floor of the stock market,whereas the shares of a private limited liability company is issued to selected persons.
(5aiii) public limited liability company are required to publish their financial statement for public view ,whereas private limited company are not allowed to public their financial statement.
(5aiv)The name of the public PLLC must end with plc whereas the private LLC must end with Ltd.
(5bi) Legal entity :limited liability company has a separate legal entity from its owners which entitles them to sue and be sued.
(5bii) large capital formation. The fund is raised through the issuance of shares to the public.
(5biii) Limited liability:- The member of the company enjoys limited liability which entitle them to only loss their shares in the events of liquidation.
(5biv) Access to loan from bank:- LLC stand a better chance to operate credit facility from the financial institution.
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(6a)Gross National Income: Gross national income is the total monetary value of goods and services produced by the nationals of a country in a given period of time usually one year
GNP = GDP + NFIA.
(6bii)
National Income; This is the national income at current price, whereas real income is national income on based price
(6c)
(i)National income is used to estimate Gdp per head i.e per capital income
(ii)it is used for comparison purpose between countries
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(7a) The normal chain of distribution is the path through which finished goods are moved from the manufacturer or producers to the final consumers. it is also the path through which ownership of product is transffered as it moves from the producer to the final consumers.
diagram demostration of the chain of distribution
(MANUFACTURER/PRODUCER)--> WHOLESALER-->RETAILER-->FINAL CONSUMERS
(7b)
i. The middlemen are merchant who purchases goods in large quantities from the manufacturer
ii.The middlemen are agents involved in the distribution of goods from the manufacturers to the final consumer
iii. The middlemen help in transporting or conveying goods to the retailer's shop
iv. The middlemen make the channel of distribution of goods longer
(7c)
i. Inadequate infastructural facilities: lack of facilities like telephone, electricity, e.t.c which can help to facilitate processing and marketing of goods are not adequate
ii. Packaging Problem: the packaging of goods is not standardised. This may result in damage or loss in transit
iii. Inadequate transport system: the transport system also affects commodity distribution and marketing in the country
iv. Insecurity on our Road: Distribution is affected as a result of the activities of armed bandits on the roads
(3a)
occupational mobility of labour: it refers to free movement of labour from one occupation, work place and geograghical area to another.
(3b)
-marriage
-promotion
-climate
-bad management
(3c)
-Educational and training
-Promotion4a. crop farming is the process by which man cultivates farm crops for consumption and for sale
4bi)introduction of farm mechanization
ii)introduction * some text missing *erials into finished goods
-source of markets for their agricultural products
(5a)
public company;
- has a minimum of 7 persons.
- has no maximum number of members .
- can raise capital from members of the public by selling shares to them.
- shares are freely transferable from one person to another .
private company;
-has a minimum of 2 persons.
-the maximum number of members is 50.
-cannot raise capital from the public and do not sell shares.
-capital cannot be transferred without the consent of othe

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