The economic policy of privatization came up as a result of the poor performance of
Commercial banks
Small-scale businesses
Public enterprises
Private enterprises
Correct answer is C
Privatization is the transfer of ownership, property or business from the government to the private sector. The policy of privatization came up as a result of the disadvantages and short comings of the public sector, which stems from inefficiency.
The activities in the oil and gas industry are classified into
Exploration and transportation
Upstream and downstream
Discovery and extraction
Onshore and offshore
Correct answer is B
The term upstream and downstream is used in the oil and gas industry to refer to the various activities of an oil or gas company.
Upstream activities involves companies who extract or produce raw materials used in the production of oil and gas
While Downstream industry are those who are involved in the distribution, sale and delivering of the refined products to the final customers.
The exports-promotion strategy is aimed at producing
Consumer goods originally imported
Machinery for industries
More goods for exports
More goods domestic consumption
Correct answer is C
Export Promotion strategy is geared towards promoting only the industries that have potential for developing and competing with foreign rivals, because the goal is to export the goods or trade abroad.
A major consideration in locating a cement factory is the availability of
Skilled labour
Power
Infrastructural facilities
Limestone
Correct answer is D
A major determinant in locating a cement factory will be the availability of raw materials, in this case which is limestone.
A major impediment to the development of agriculture in Nigeria is
Land use system
Inadequate supply of farm inputs
Low income of farmers
Limited research on seedlings
Correct answer is B
Farm inputs are the resources that are used in farm production, such as chemicals, equipment, feed, seed, and energy. One of the problems faced by the agricultural sector is the lack of these farm inputs that fast track crop production.