Government participation in the oil industry was necessitated by the
Annual increase in production
Formation of OPEC
High demand for crude oil
Huge investment outlay
Correct answer is B
No explanation has been provided for this answer.
If in this demand-supply diagram, the quantity supplied is OQ, then
Price will be OP
There will be excess demand of RT
Price will be ON
Price will tend to rise
Correct answer is B
No explanation has been provided for this answer.
In Nigeria, efficiency in public corporations can be achieved through
Public offer
Indigenisation
Privatization
Nationalization
Correct answer is C
Privatization of public corporations is one of the ways to maintain efficiency in the sector. This happens when government owned and controlled enterprises are transferred to private shareholders which include corporate bodies and individuals.
The main reason for privatization is for economic growth and development, to reduce waste and to encourage the development of the economic sectors.
The most important determinant for the location of a brick industry is the availability of
Market
Power supply
Water
Raw materials
Correct answer is A
The most important determinant of the location of an industry that is into bricks production is the market. This has to do with people who are willing and able to patronize the product of the company. The market to buy produced goods/materials is very important. If the industry is located in a rural area, the patronage would be low because urban areas are the highest consumers of building materials.
The main reason for low agricultural produce in west Africa is need to
The presence of large-scale agro-allied industries
High dependency ratio
Over dependence on agriculture for subsistence
The use of crude implements in farming process
Correct answer is D
Farming implements used by farmers especially at the rural level has been known to lower productivity due to the amount of labour needed to increase production. These farmers still use outdated farm tools. This is one of the major reason for low productivity in the agricultural.
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