The production strategy used in an over-populated country is
Import substitution
Capital intensive
Labour intensive
First come first employed
Correct answer is C
Labour intensive simply refers to a process or an industry that requires a large amount of labor to produce its goods or services. It is suitable for an over-populated economy.
The effect of privatization on the industrial sector of a country is that it
Ensures efficiency
Discourages efficiency
Leads to decrease in output
Leads to liquidation
Correct answer is A
Privatization involves selling state-owned assets to the private sector. It leads to efficiency in the sense that, it increases employment and productivity. Private market factors can more efficiently deliver many goods or service than governments due to free market competition.
Which of the following is not true of small companies? They
Cannot benefit from economies of scale
Are a good source of new jobs
Can satisfy demand in specialist markets
Have a good record of technical innovation
Correct answer is D
Small companies do not have a good record of technical innovation because they are mainly a start up whose operations are limited to a small market area, small teams of employee, limited area of locations and lower revenue and profitability.
The following are features of subsistence agriculture except
Little capital
Processing of raw materials
Small allotments of land
Use of crude
Correct answer is D
The use of crude oil is not a characteristic of subsistent farming. Crude oil is use in the oil and gas industry, and refined into various petroleum products.
Which of the following is not a consequence of increased unemployment?
A fall in tax revenue for the government
A reduction in trade union's influence
A fall in death rate
An increase in the labour force
Correct answer is C
No explanation has been provided for this answer.