The location of iron and steel industry at a place is due to
Easy access to raw materials
Access to cheap labour
Government policy
Good infrastructure
Correct answer is A
In choosing the location of a company involved in the production of iron and steel, the source of its raw material is the first and most important factor to consider.
Which of the following problem has the least effect on agricultural productivity in West Africa?
Incidence of pests and diseases
Unfavourable weather conditions
Urban-rural migration
Illiteracy
Correct answer is D
No explanation has been provided for this answer.
Labour productivity is defined as
Output per man-hour
Average Output
The maximum number of hours Worked
Total output of labourÂ
Correct answer is A
Labour productivity measures the hourly output of a country's economy.
In the long run, as individuals receive higher wages, it causes
Demand for food to decrease
Demand for leisure to decrease
Supply of normal goods to decrease
Supply of labour to decrease
Correct answer is A
No explanation has been provided for this answer.
Which function of the wholesaler enables him to stabilize prices?
Warehousing goods
Advertising the goods
Granting credit to retailers
Transporting goodsÂ
Correct answer is A
One function of the Wholesaler is that he serves as a warehouse for the manufacturer. The wholesaler provides warehousing facilities to get rid of stockpiling at the production point. Goods are stored at the warehouse until they are bought, hence it gives the wholesaler an edge in the bargaining power of the products. He can decide to keep the goods as long as possible and sell them at a price he considers considerable.