(7a) i. Effective and efficeint Distribution of Goods: Transportation facilitates and quickens the effective distribution of good and services to areas where they are needed ii. Movement of goods and persons: transport facilitate the movement of goods and persons from one place to another iii. Employment opportunity: All means of transportation employs lots of people, thereby enable them to earn a living iv. It influence the location of industries: The existence of good transport network do help in the location of industries v. Development of Rural and Persons: transportation has greatly encouraged the development and growth of rural areas of a country. (7b) - Continuous flow of goods - High cost of construction - Limited scope -It is vulnerable to climatic change - Reduce the overcrowding of the roads (3a)(i) source of revenue. (ii)promotion of economic development. (iii) provision of employment opportunities. (iv)it increases world output. (3bi)Import quota:This helps to restrict imports by imposing a limit on the quantity of goods that can be imported. (3bii)Embargo: This is a ban placed on some imported goods. (3biii) Devaluation: This increases the cost of importation and reduces the cost of exports. (3biv)Foreign exchange control. (1a) i. Production can be define as the transformation of raw material into finished goods and their distribution to the consumers to satisfy their wants. ii. Primary Production: refers to the extraction of raw materials provided by nature. it concern with the process of obtaining raw materials or resources in their natural form from the land ,air and water iii. Secondary Production: This involves the transformation or conversion of the basic raw materials or semi-finished goods into final forms that are acceptable to the consumers iv. Tertiary production: this concerned with the provision of commercial and professional services to the people. (1b) i. Land ii. Labour iii. Capital iv. Enterprenuer i. Land is define as free gift of nature . land does not only include land surface of earth but all other free gifts of nature or natural resources. ii. Labour as a factor of production is defined as all form of human effort put into or utilised in production. It is also refers to man’s mental and Physical exertion in the process of production iii. Capital may be define as man- made asset used in production. it may also be define as the stock of previous wealth invested in order to produce future wealth iv. Enterprenuer as factor of production that co-ordinates and organises other factors of production in order to produces good and services
Posted on: Thu, 05 Sep 2013 10:32:51 +0000
Trending Topics
Recently Viewed Topics
© 2015