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Nabteb Gce 2022 Commerce Theory Answers

Posted by on November 11, 2022 0

Nabteb Gce 2022 Commerce Theory Answers

(6a)

~ DIRECT SERVICE

(i) Direct service is service paid directly by those who enjoy them.

(ii) Direct service providers render their services to people who are willing to pay for them.

 

~ INDIRECT SERVICE

(i) Indirect service providers render services to the general public and are paid indirectly by the general public through taxes paid to the government.

(ii) Indirect service is a government-funded service that is delivered to the general public.

 

(6b)

– Devaluation

– Imposition on embargo

– Import quota

– Reduction of exercise duty

– Licence

– Tariff

 

(6c)

– Regulatory Measures:

Every country wants to export its surplus natural resources, agricultural produce and manufactured goods to the extent, it can and import only these goods and products which are not produced or manufactured within the country. For this purpose regulatory measures like tariff barriers (custom duties) non-tariff barriers, quota restrictions, foreign exchange restrictions, technological and administrative regulations, consulter for­malities, state trading and preferential arrangements, trade agreements and joint commis­sions etc. Come in the way of free trade and unfettered flow of foreign business.

 

– Procedural Difficulties:

Different countries have evolved different procedures, practices and documents in order to regulate the export trade. Some of these such as foreign exchange control regulations and others have been formulated after keeping in view the national objectives and have posed certain procedural problems to exporters and importers.

 

– Risk in transit:

Foreign trade involves much greater risk than home trade. Goods have to be transported over long distances and they are exposed to perils of the sea. Many of these risks can be covered through marine insurance but increases the cost of goods.

 

– Lack of information about foreign businessmen:

In the absence of direct and close relationship between buyers and sellers, special steps are necessary to verify the creditworthiness of foreign buyers. It is difficult to obtain reliable information concerning the financial position and business standing of the foreign traders. Therefore, credit risk is high.

 

– Import and export restrictions:

Every country charges customs duties on imports to protect its home industries. Similarly, tariff rates are put on exports of raw materials. Importers and exporters have to face tariff restrictions.

They are required to fulfill several customs formalities and rules. Foreign trade policy, procedures, rules and regulations differ from country to country and keep on changing from time to time.

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(7a)

Balance of trade (BOT) is the difference between the value of a country’s exports and the value of a country’s imports for a given period.

 

(7b)

– Current account: This account scans all the incoming and outgoing of goods and services between countries. All the payments made for raw materials and constructed goods are covered under this account. Few other deliveries that are included in this category are from tourism, engineering, stocks, business services, transportation, and royalties from licenses and copyrights. All these combine together to make a BOP of a country.

 

– Capital account: Capital transactions like purchase and sale of assets (non-financial) like lands and properties are monitored under this account. This account also records the flow of taxes, acquisition, and sale of fixed assets by immigrants moving into the different country. The shortage or excess in the current account is governed by the finance from the capital account and vice versa.

 

(7c)

– To protect nascent industries

– To fortify national defense programs

– To support domestic employment opportunities

– To combat aggressive trade policies

– To protect the environment

ESSAY-WRITING-ANSWERS

(1)

A Defective Education System; The Nigeria’s education system does not prioritize reading for general acquisition of knowledge rather it prioritizes reading for passing examinations. Most students read to pass examination. Some students have even resorted to cramming in order to pass examinations. To make matters worse, some teachers want their students to write verbatim in examination. This is a wrong approach to reading and does not help one or a society to develop.

The implication is that the students will pass the exams very well but the knowledge is not there, because a few minutes after exams they can’t answer same question.

 

Libraries; Some actually have a building that is labelled “library” but without books and library personnel. Some libraries are stocked with outdated books or reading materials. Most students do not go to libraries these days to read or do their assignments. Some go there to write or copy notes, which ordinarily should not be the main reason.

 

Poor quality teachers; This is quite pathetic considering the fact that to a large extent, the quality of the teachers determines the quality of the students. Teachers are role models to their students, if teachers cannot read fluently how can the students?

 

Poverty; Poverty is also responsible for the prevailing poor reading culture in Nigeria. Developing a reading culture is more than buying and reading just a book, and reading repeatedly. It costs a lot of money to buy books. Some parent cannot afford school fees, let alone buying books for their children to read.

Where one does not have books to read, developing a reading culture becomes difficult. Some therefore make the decision to indulge in examination mal-practice as the only way.

 

The above mentioned factors can be solved through the following ways.

 

Government; Government at all levels should promote a good reading culture by establishing standard public libraries because not everybody has access to school libraries. In most cases, school libraries are highly restricted to students. Also, not all schools have functional libraries. Therefore, the establishment of public libraries will help those who are not in school and students whose schools do not have functional libraries.

 

Qualified teachers; government should employ qualified teachers to teach. If those who are not well educated are certified and employ this will not give the desired result for the future, government can also organize workshop, and trainings for it teachers.

 

Schools; School should make it compulsory for students to go to the library to do some readings or assignment. Schools should create a reading hour on the timetable, organize reading competitions, and especially inter-school competitions.

 

Parents; Parents needs to encourage their children to develop a positive attitude toward reading. To this end, parents should include in their budget reading materials for their children.

 

The students; Students must prioritize reading by developing a positive attitude towards it. They should see reading as natural as play, make it a hobby, and devote their time to reading good books.

All hands must be on deck for a good reading culture to be promoted among Nigerian students. The Parents, the students, the teachers and the Government must play their roles in ensuring that this is done. The students must not be lazy; they must be ready to read at all times

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