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(vii) To achieve economic self-sufficiency: Through good development planning offers the essential mechanism for overcoming some obstacles to economic development. (viii) To ensure economic growth: Development planning offers the essential mechanism for overcoming some obstacles to economic development. (ix) To reduce foreign control of the economy: A good development planning will assist to reduce foreign control or dominance of the national economy. (x) To ensure joint business participation: A good development planning will increase the participation of citizens in the ownership and management of productive enterprises. (xi) To reduce rural-urban migration: A good development planning will also ensure that movement of people from rural to urban centres is reduced. ============================ (11) (i)It has contributed to the transformation of technology as a pre- condition of economic growth and they contributed to the expansion of electronic networks by opening possibilities for trade in long-distance services. (ii)It allows the production and consumption of information by allowing domestic firms to benefit through the transfer of technology. (iii)It has globally contributed more to the global output by employing more people in the sector and responsible for Growing economic interdependence. (v)It increases movements of people and services across national borders, f all these have been made possible by the revolution in communication, information, and other technologies well as important political changes. (v)It has taken the front stage of economic development as a result of the rapid expansion of knowledge based. ============================ (12a) Nationalization is the process of taking privately-controlled companies, industries, or assets and putting them under the control of the government. (12b) (i) To provide social amenities such as water and electricity at affordable/reasonable prices and to protect the people from exploitation by private firms through the establishment of similar firms. (ii) To control private monopoly through nationalisation and to raise revenue for government for developmental purposes. (iii) To provide public goods which are not normally provided by the private sector. E.g. Defense. And to create employment which helps to raise the standard of living of the citizens. (iv) For strategic reasons since certain industries cannot be left in the hands of the private sector e.g ammunition production and Where huge initial capital is involved, government steps in when the private sector cannot provide it. (v) To diversify the economy, leading to growth and development and to ensure even development across the country. ============================ Completed.! We are always with You All Today And Forever! Invite your friends to us! ......

2022 NECO GCE ECONOMICS ANSWERS! ============================ OBJ: USE THIS Neco Gce Economics Obj: 01-10: DCDEBBBAEB 11-20: AAAACDCDBD 21-30: CAAEBACDBB 31-40: BBEBECEDCB 41-50: ECAAECCAAE 51-60: AEBCAEADDC ✅✅✅✅✅✅✅✅✅ Completed.! ============================ THEORY ANSWERS! *(GENERAL INSTRUCTIONS: Answers five (5) Questions in All. One (1) Question From Section A. And Five (5) Questions from Section B.)* ============================ SECTION A (ANSWER ONLY ONE(1) QUESTION) (1) [img]https://i.imgur.com/6SWiSDf.jpeg[/img] (1b) (i)Average cost is also known as cost per unit,it is ratio of total cost to the quantity of output, while marginal cost is the ratio of charge in total cost to the charge in the quantity or level of output (ii)Both average cost and marginal cost decreases as the level of output increases ============================ SECTION B (ANSWER ONLY FOUR (4) QUESTIONS FROM THIS SECTION) (5a) The dependency ratio is a measure of the number of dependents aged zero to 14 and over the age of 65, compared with the total population aged 15 to 64. (5b) Declining Population: A reduction over time in a region's population can be caused by sudden adverse events such as outbursts of infectious disease, famine, and war. for example sub-replacement fertility, persistently low birth rates, high mortality rates etc. (5c) Efficiency of labour Refers to the productive capacity of a worker to do more or better work or both during a specified period of time. (5d) Division of labor: It combines specialization and the partition of a complex production task into several, or many, sub-tasks. ============================ (7a) Recurrent expenditure refers to regular expenses incurred by the government in the provision of goods and services e.g. salaries, fueling gov‘t vehicles, servicing public debt etc. WHILE Capital expenditure refers to government spending that goes into financing specific projects such as construction of roads, railway lines, airports etc. (7b) (CHOOSE ANY FIVE) (i) TAXES: Taxes include both direct and indirect taxes. Government generates income or revenue by taxing individuals and corporate bodies. (ii) LOANS: Government can obtain loans from both internal and external sources e.g. the World Bank, etc. Grants and aids Government can receive grants and aids as revenue from wealthy or developed countries. (iii) LICENCE: Government can generate revenue through licences, e.g. driver's licence. (v) SAVINGS: Government can also generate revenue through savings, especially when a country has budget surplus. (vi) RENTS AND RATES: Earnings from water, properties, housing, etc owned by the government are sources of income to the government. (vii) FEES, FINES AND ROYALTIES: Government can generate revenue through court fees, mining companies, postage charges, etc. (viii) EARNINGS FROM GOVERNMEN INVESTMENTS: Government can also earn income from government-owned business enterprises or from joint ventures. ============================ (10a) Economic planning may be defined as government's conscious formulation of economic policies for the allocation of resources to all sectors of the economy over a period of time. This brings about sustained growth in the economy. (10b) (CHOOSE ANY FIVE) (i) To increase the level of employment: A good economic plan will ensure the increase in the level of employment in the economy. (ii To develop efficient technology: A good economic plan can promote a better and efficient technology. (iii) To increase the real income of citizens: The real income of the citizens can easily be increased through a good economic planning. (iv) Equitable allocation of resources: Development plan is aimed at equal allocation of the country's resources to all sectors of the economy. (v) Diversification of the economy: Through good development planning, Nigeria's economy will be diversified to many sectors. (vi) To bridge the gap between the rich and the poor: A good economic planning ensures distribution of income more evenly among individuals and the socio-economic groups.

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(v)Foreign exchange earnings: Countries that export their commodities (Agricultural and other mineral resources) generally earn more income through foreign exchange earnings. ============================ (8a) (i) 5% trade discount: It implies that 5% trade discount would be given to the Customer when he buys in large quantity. This is to induce Customers to buy more goods because he will pay less. (ii) 10% Cash discount: It means that a 10% cash discount would be allowed on Settlement of account of the buyer pay cash within a specified period. It reduces the amount to be paid (iii) 2% net 30days: It means that there will be no discount after 30 days. The buyer would pay the total amount after 30 days which he ought to enjoy. 2% discount on goods bought before 30 days (8b) (i) CURRENT ASSETS (a) Receivable #50,000 (b) Cash in hand #40,000 (c) Stock (31/12/21) #20,000 (d) Cash at bank #25,000 Current Asset #135,000 (ii) CURRENT LIABILITIES. Overdraft. #15,000 Current Liabilities #15,000 (iii) WORKING CAPITAL Current Asset — Current Liabilities 135,000 - 15,000 = 120,000 (iv) AVERAGE STOCK: = Opening stick + Closing stock ÷ 2 = 30,000 + 20,000 ÷ 2 =50,000÷2 =25,000 ============================ 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 JOIN HERE FOR LEGIT EXPO 👇🏾👇🏾👇🏾👇🏾 https://t.me/EAGLEEYETEAM

2022 WAEC GCE COMMERCE ANSWERS ============================ THEORY ANSWERS! INSTRUCTIONS: Answer Five (5) Questions Only. (1) -TABULATE- PUBLIC CORPORATION || COOPERATIVE SOCIETY (i) Formation Act of parliament or decree May only be registered Under co-operative Laws (ii) Sources of Funds Government And through grants Voluntary Contributions by members (iii) Management Board of directors Elected Commitee (iv) Business Motive Provide Essential services to the general public To promote member's welfare (v) Decision Making Government Members of the committee (1b) • Step 1: The promoter devises a scheme of capitalisation, bearing in mind the cost of formation, assets to be bought and working capital. • Step 2: The promoter is required to secure the service of a solicitor to prepare certain documents to be filed with the registrar of companies. The documents are (i) memorandum of association (ii) Article of Association (iii) statement of Nominal capital • Step 3: The documents are stamped and lodged with the registrar of companies. • Step 4: After going through the documents, the registrar of companies then issues a certificate of incorporation to the company. This gives the company the power to commence business. • Step 5: A private company can commence business after recieving the certificate of incorporation. ============================ (2) (i) CONSULAR INVOICE: Is used in the embassy of the importing country Showing the original price of the goods in the country of origin.It will ensure correct payment of duties by showing the correct price goods. (ii) INDENT: is an order to buy goods conveyed by an importer to a potential supplier. It gives details of the goods required approximate price and date of delivery. It can be opened or closed (iii) SHIP'S MANIFEST: Is a document to be completed by the captain of a ship and lodged with the customs authorities before the ship can leave the port. (iv) BILL OF SIGHT: is a document used in the import trade where Importers are requited to complete the appropriate entry document I there is insufficient information about the cargo to determine correct duty in advance. It is submitted to the custom authorities if the full description of the imported goods cannot be provided. (v) DOCK WARRANT: Is a receipt for goods delivered and stored in the warehouse. it entitles the Holder to take possession of goods ============================ (5a) Stock market is a market where stocks (pieces of ownership in businesses) are traded. These are traded between investors. It also has markets for investment vehicles like mutual funds, derivatives, and exchange-traded funds. While commodity market is a marketplace where raw or primary products are exchanged. These products, such as oil, gold, and copper, are often commodities extracted from the ground. (5b) (CHOOSE ANY FOUR) (i) Aluminium (ii) Copper (iii) gold (iv) silver (v) palladium (vi) platinum (5c) (CHOOSE ANY FOUR) (i)Increase in agricultural production: Commodity exchange ensure an increase in agricultural production in the sense that once produce are harvested and sold with ease and with good profits, this will give more encouragement for the farmers to produce more. (ii)Stabilization in agricultural product pricing: Positive commodity exchange do encourage the farmers to produce more because of the assurance that whatever they produce, their products must be purchased because of the stable prices they enjoy. (iii)Generation of employment: Commodity exchange generally involves exports and imports and these activities enable many people to be gainfully employed in making commodity exchange possible. (iv)Encourage exploration of solid minerals: A country that enjoy more income as a result of the importation of some mineral resource will be encourage to explore more mineral resources in order to increase more income.

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