2014 NECO GCE Verified Economics Objective and Theory Answers Share This Thread On Posted by: Admin Category: @ BOLA BEST EXAM Time: ☀ 10.11 14:58 ✉ Q4a Division of labour is process in which a worker or group of workers is assigned a specialized task in order to increase efficiency. 4b Advantages: 1. Workers are trained in one task and specialise in this- this increases efficiency and output. 2. Less time is wasted moving from one workbench to another. 3. Production is faster and thus more products are produced. (3a) An entrepreneur is someone that creates a new business. This can carry a high risk because it requires money to set up a new business without knowing if it will give a return on investment 3b) i. job creation ii. inspiration iii. Innovation iv. Economic Development ECONOMICS OBJ: Type C: 1DEABDBCCCB 11BEACDAEDCC 21AEECABAAEB 31EBCCBADECE 41EBBEDAEADC 51BCDDBEACBB Q12 1. To eradicate extreme poverty and hunger 2. To achieve universal primary education To promote gender equality and empower women 3. To reduce child mortality 4. To improve maternal health Type C. 1DEABDBCCCB 11BEACDAEDCC 21AEECABAAEB 31EBCCBADECE 41EBBEDAEADC 51BCDDBEACBB (3a) An entrepreneur is someone that creates a new business. This can carry a high risk because it requires money to set up a new business without knowing if it will give a return on investment 3b) i. job creation ii. inspiration iii. Innovation iv. Economic Development 4b Advantages: 1. Workers are trained in one task and specialise in this- this increases efficiency and output. 2. Less time is wasted moving from one workbench to another. 3. Production is faster and thus more products are produced. Dnt Shade the Paper Type of OBJ you were been Given, Shade The One we send to You. i.e Change your Paper Type to Type C. Thanks!!! Verified ECONOMICS OBJ Type C: 1-10: DEABDBCCCB 11-20: BEACDAEDCC 21-30: AEECABAAEB 31-40: EBCCBADECE 41-50: EBBEDAEADC 51-60: BCDDBEACBB Change your Type To C (3a) An entrepreneur is someone that creates a new business. This can carry a high risk because it requires money to set up a new business without knowing if it will give a return on investment. (3b) - Job creation - Inspiration - Innovation - Economic Development (4a) Division of labour is process in which a worker or group of workers is assigned a specialized task in order to increase efficiency. (4b) Advantages of Division of Labour. - Higher productivity - Lower costs - Simplified training - Greater cooperation - Better goodwill (5) (i) Unemployment is a situation where some people who fall within the ages of work, are unable to obtain befitting work (ii) Under employment is a situation whereby the potentialities of a worker are not fully utilised. (iii) Trade union can be defined as an effective, organised body of employees of the same trade or similar occupations purposely to achieve better working conditions for its members. (iv) Efficiency of labour is the ability of labour to increase output without increasing the quantity of labour. (6) Positive: - Reduction in burden of debt: during inflation, debtors gain because there is too much money in circulation, which will enable them to pay their debts with ease. - Higher profit margin: because producers are selling their goods at higher prices, this will lead to higher profits Negative: - It discourages savings: during inflation, people spend more money leading to low or no savings. - Increases in interest rate:the rate at which banks give loan to customers increases during inflation. (12) (i) To eradicate extreme poverty and hunger (ii) To achieve universal primary education (iii) To promote gender equality and empower women (iv) To reduce child mortality (v) To improve maternal health.
Posted on: Thu, 04 Dec 2014 08:35:58 +0000
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