400
500
600
700
Correct answer is B
No explanation has been provided for this answer.
A distinguishing characteristic of consumer co-operative society is that the
The maximum number of shareholders is 20
Members are the owners
Members are the workers
The minimum number of shareholders is 5
Correct answer is B
Some Characteristics of consumers' co-operative society:
(1) A consumers' co-operative society is a voluntary association of persons and is registered under the Co-operative Societies Act owned and run by members.
(2) The membership of these stores is open to all the adults.
(3) There is a democratic control and management of the affairs of these societies.
In the diagram above what happens when the minimum wage is fixed at OW?
Unemployment is reduced
Unemployment results
The demand schedule will shift
The supply schedule will become steeper
Correct answer is B
No explanation has been provided for this answer.
The deregulation of the petroleum sector in Nigeria will bring about
Efficiency in pricing and distribution of the products
An end to the importation of fuel
An end to foreign firms' dominance
Fixing appropriate production quotas
Correct answer is A
To understand this, we first have to understand what deregulation means. Deregulation is the removal of regulations or restrictions, especially in a particular industry. In this context it is the removal of regulations and restrictions such as subsidy paid by the Nigerian government on petroleum products.
One of the main reasons for deregulating the petroleum sector is to make the sector competitive, efficient and with lower product prices. The government has been paying for subsidy and this has led to stealing and corruption in that sector as well as high cost of refined products. If the sector is deregulated, petroleum products would be refined and sold in Nigeria eliminating the extra cost of paying for subsidy by re-importing the refined products.
Complementary goods
Substitutes
Inferior goods
Luxury goods
Correct answer is B
No explanation has been provided for this answer.
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