ECONS 101

ANSWERS TO REVISION QUESTIONS Hello World, Happy Holiday to you all and Happy Friday and Happy Weekend. Its alot of Happy Points for Us this Season Guyz. Lolz- Hope this Holiday is Fun for You and All Your Loved Ones. It is Well in Jesus Name. Well for some weeks now, we have dealt solely on revision Questions gotten from WAEC Past Questions and Today we will try to Answer them, Hope you all tried them cos thats the only way you can truly be sure of your performance. Alright Let's get Started......... 1. C- How to Produce. 2. C- Balance...

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ECONS 101

REVISION QUESTIONS Hey Readers, Thank God Its Friday Again!!!!... It's always the Feeling of Friday, The Feeling of Now i can Relax, so before we do, lets revise some questions in the spirit of Holiday. We are continuing the Revision of Questions of WAEC, JAMB, GCE etc. So Let's get Started.... 37. The Differences between Birth Rate and Death Rate is known as ? a.  Demographic Transition b. Natural Growth Rate c. Migration Rate d. Fertility Rate. 38. Mr Okpoti has Meat and wants Maize, while Mr Adama has Maize and wants Meat. ...

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ECONS 101

REVISION QUESTIONS Hey Readers, Thank God Its Friday Again & lAST dAY OF THE mONTH OF jULY!!!!... It's always the Feeling of Friday, The Feeling of Now i can Relax, so before we do, lets revise some questions in the spirit of Holiday. We are continuing the Revision of Questions of WAEC, JAMB, GCE etc.  So Let's get Started.... 25. The Difference between the Number of Immigrants and Emigrants is? a. Natural Growth Rate b. Natural...

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ECONS 101

REVISION QUESTIONS Hey Readers, Thank God Its Friday Again!!!!... It's always the Feeling of Friday, The Feeling of Now i can Relax, so before we do, lets revise some questions in the spirit of Holiday. We are continuing the Revision of Questions of WAEC, JAMB, GCE etc. So Let's get Started.... 13. If a Particular Consumer derives Total Utility of 22Utils having Consumed 4 units of a given product, his average Utility will be a. 88 Utils b. 18 Utils c. 5.5 Utils d. 3.5 Utils. 14. The Law of Diminishing Marginal Utility applies to...

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ECONS 101

REVISION QUESTIONS Hey Readers, Thank God Its Friday!!!!... It's always the Feeling of Friday, The Feeling of Now i can Relax, so before we do, lets revise some questions in the spirit of Holiday.  1. Which of the Following problems arises where there are more than one technically possible methods of production? a. Where to Produce b. For Whom to Produce c. How to Produce d. What to Produce. 2. Visible Balance is also known as a. Terms of Trade b. Balance of Payments c. Balance of Trade d. Capital Balance. 3. A Shift...

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ECONS 101

PUBLIC CORPORATION Hey Guyz, watsup? How are y'all doing, I hope you are great. I just had one of the most difficult week of my Life. I worked tirelessly hard on a project that was dear to my heart and it didn't just work out. So y'all have to be doing good cos my happiness clings on that, I find that so many times when am in a place of pain, the happiness of others heal me alot- I could just see and hear a good news about somebody else and immediately feel a surge of happiness come my way. so I can say I share in others happiness how much...

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ECONS 101

STOCK & DEBENTURE Hey Guyz, Happy New Week hope the weekend was wonderful for you and your loved ones. I had a Blast myself. I Pray that this new week brings all kinds of happiness and joy your way in Jesus name- Amen. We are continuing from where we stopped last time, so let's get started..... Raising of Capital: 1. By Prospectus- By giving particulars of the company and its business, is published with application form. Shares are allotted to those who apply. 2. By Offer for Sale- The whole issue of shares is allotted to an issuing...

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ECONS 101

SHARES Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started..... Shares can be defined as the individual portion of the company's capital owned by shareholders. It is the interest which a Shareholder has in a company. In other words, share is a unit of capital measured by a sum of money. The Company Act defines a Share as "The Interest...

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ECONS 101

PUBLIC LIMITED LIABILITY COMPANY/ JOINT STOCK COMPANY Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started..... A Public Limited Liability Company is defined as one which by its articles allows the public to subscribe for its shares, must have a minimum of 7 persons but no maximum number. It allows the shares to be transferred and the name...

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ECONS 101

PRIVATE LIMITED LIABILITY COMPANIES Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started..... A Private Limited Liability Company is defined as one which by its articles restricts the rights to transfer its shares, limits the number of its shareholders from two to fifty, prohibits any invitation to the public to subscribe for its shares,...

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ECONS 101

LIMITED LIABILITY COMPANY CONTD Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started.....   Formation of a Limited Liability Company: The Steps involved in the formation of a Limited Liability Company (Whether Private or Public) are as follows: Step 1- The Promoter devises a scheme of Capitalization, bearing in mind the cost of Formation,...

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ECONS 101

LIMITED LIABILITY COMPANIES Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. HAPPY DEMOCRACY DAY FOR NIGERIA !!!. Let's Get Started..... A Company can be defined as a Legal Person or Entity created by the Association of a Number of People in accordance with the Law for the Purpose of Pooling their Capital together in order to set up a Business Venture....

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ECONS 101

PARTNERSHIP Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started..... Types of Partnership: a. Limited Partnership is a type of partnership which is formed and registered under the Limited Partnership Act. In a Limited Partnership, there must be one general partner with unlimited liability and one limited partner whose liability is limited...

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ECONS 101

SOLE PROPRIETORSHIP Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started..... Sole Proprietorship may be defined as a form of business enterprise owned, financed and managed by one person with the primary aim of maximising profits. The Sole Proprietorship, also popularly referred to as one-man business, is the oldest and the most common type...

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ECONS 101

BUSINESS ORGANISATION CONTD Hey Guyz, Happy New Week hope the weekend was wonderful for you and your loved ones. I had a Blast myself. I Pray that this new week brings all kinds of happiness and joy your way in Jesus name- Amen. We are continuing from where we stopped last time, so let's get started..... Differences Between Private and Public Enterprise: Private Enterprises Public Enterprises 6. Owners bear losses suffered by private enterprises. Tax payers bear losses suffered by public enterprises. ...

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ECONS 101

BUSINESS ORGANISATIONS Hey Everyone, Happy New Week. Happy FRIDAY to you all. Hope this weekend brings you happiness and joy beyond your expectation. Let's get started!!!! Business Organisation can be defined as an enterprise set up by an individual/group of individuals, government or its agencies for the main purpose of making profit and providing goods and services for the satisfaction of human wants. All firms irrespective of their size is there to provide goods & services to the customers. TYPES OF BUSINESS ORGANISATIONS: 1. PRIVATE...

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ECONS 101

SMALL & LARGE FIRMS Hey Everyone, Lovely New Week even though its ended but um its beautiful today isn't it. FRIDAY!!!. LOLZ- Its very self-explanatory.... Okay let's work a lil before we throw our books to the other side *winks*. A Firm is defined as an independently administered businesses unit which is capable of carrying out production, construction or distribution activities. It forms an industry with other firms performing or producing complementary goods and services. Firms may be small or large depending on capital outlay and the...

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ECONS 101

RELATIONSHIP BTW PRODUCTION POSSIBILITY CURVE & OPPORTUNITY COST Hi Everyone, Happy New Week to you all. It's another opportunity to learn and grow and generally become better at what we already know or what we have an idea of. So let's get started... We are continuing from where we stopped last time. Interpretation/ Points to Note from the Graph:   Points A to F on the graph indicate efficient use of resources.   At Points O  & P (Outside the curve), production is not feasible. Production at these points...

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ECONS 101

FACTORS OF PRODUCTION CONTD Hello Everyone, Happy Friday. Thank God It's FRIDAY!!!!!.... LOLZ, Yes the last working day of the week and then rest rest rest!!!... There's time for HARD WORK and also time for REST... Pls Make Sure you Balance the Two Very Essential. Straight to the Point of the Day CAPITAL CONSUMPTION refers to the using up of existing capital stock and not replacing worn-out capital goods used in production. When fixed assets like Buildings, Machinery or Motor Vehicle are used continuously, they undergo wear and tear, hence such...

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ECONS 101

FACTORS OF PRODUCTION CONTD Hi Everyone, How Beautiful is today? Magnificent isn't it, well I think so too. Just being alive is such a pleasure and a privilege that sometimes, I think of some great people who have died and I am filled with awe that God picked me to live till today. God is Good. Last time we started this series and today hopefully we will either finish or draw closer to the close of this particular topic so let's take this ride together. CAPITAL Capital may be defined as man-made assets used in production. In other words, It...

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