Trade among West African countries is poor because the
Countries are self-sufficient
Communication links are weak
Number of banks is insufficient
People are not enterprising
Correct answer is B
No explanation has been provided for this answer.
It is necessary to estimate the national income of a country because it
Indicates the overrall performance of the economy
Ensure equitable distribution of wealth
Assits investors in identifying profitable ventures
Enables governments to conserve national resources
Correct answer is A
No explanation has been provided for this answer.
International trade is an application of the principle of
Industrial production
Mass production
Regional co-operation
Comparative cost advantage
Correct answer is D
No explanation has been provided for this answer.
In a socialist economy, the means of production is owned and controlled by the
State
Rich
Entrepreneur
Traders
Correct answer is A
No explanation has been provided for this answer.
One disadvantages of direct tax is that
Government's revenue is reduced
Price of essential commodities fall
People are discouraged from additional work
Firms make more profit
Correct answer is C
No explanation has been provided for this answer.