The labour is divided into different section
The work is divided into different parts to be completed by each labour
Production is completed by the different department of a factory
Commodities are produced at different times by a single labourer
The labour force in the country is not united
Correct answer is B
No explanation has been provided for this answer.
By subsistence production we mean?
Goods and services are produced for consumption only
Goods and services are sold to others
Raw materials are produced in the country
Goods and services are produced for the market
None of these
Correct answer is A
No explanation has been provided for this answer.
An economic problem arises when?
Manufactured goods are in short supply
Money is in short supply
Buyers are many
Sellers are few
Scarcity and choice are involved
Correct answer is E
No explanation has been provided for this answer.
The budget of Nigeria will be deficit if
Revenue expenditure exceeds the revenue receipts
Capital expenditure exceeds the capital receipts
Revenue and capital receipts exceeds revenue and capital receipts
The government is spending more than its receipts
All of the above
Correct answer is D
No explanation has been provided for this answer.
Which would you NOT consider an advantage of one-man business?
Freedom of action
Limited liabiities
Quick decision-making
Personal contact with customers
None of the above
Correct answer is B
No explanation has been provided for this answer.