Import monopoly
Import licence
Import quota
Embargo
Correct answer is C
An import quota is a limit on the amount of goods that can be brought into a particular country. This means importers cannot exceed the quantity of imports permitted on the licence.
The sector which contribute highly to the economy is__________
Primary sector
Secondary sector
Tertiary sector
Education sector
Correct answer is A
Primary sector or extractive occupations include farming, fishing, mining etc workers here form about 65 percent.
One of these is not a way by which government encourage industrialization?
Protection of Infant industries
Establishment of Nigeria Enterprises Promotion Decree
Low Productivity and inefficiency
Establishment of higher institutions
Correct answer is C
Low productivity and inefficiency is not a way by which government encourage industrialization.
Industrialization is the process of_________
Concentrating a firm in a place
Transforming as economy based on extractive to manufacturing
Transferring a government industry to individual
Transforming finished goods into semi-finished goods
Correct answer is B
An industrialization increases the volume of Industrial activities such as manufacturing.
A form of tax that is mildly progressive and regressive is______
Proportional tax
Progressive tax
Regressive tax
Digressive tax
Correct answer is A
In a proportional tax system, all taxpayers are required to pay the same percentage of their income in taxes. This means that lower class, or middle class, or upper class people pay the same amount of tax. This is characterized by a Progressive and Regressive taxing system