No5)

Unemployment may be defined as a situation where some people who fall within the ages of working population, capable and willing to work, are unable to obtain befitting work to do while underemployment whereby the potentialities of a worker are not fully utilised

No5b)
i) Seasonal unemployment: This is caused by seasonal changes that affect some types of work. Workers that work in road construction companies remain unemployed during rainy season

No5bii)
Structural Unemployment: This arises as a result of slight changes in the industrial structure of a country workers will be retrenched as a result of economic recession and it happened in Nigeria in 1984, when many firm folded up as a result of this.
iii) Friction Unemployment; it arises when people leave their present job with the hope of getting a new and better one but fail to do so

No5)

Unemployment may be defined as a situation where some people who fall within the ages of working population, capable and willing to work, are unable to obtain befitting work to do while underemployment whereby the potentialities of a worker are not fully utilised
No5b)
i) Seasonal unemployment: This is caused by seasonal changes that affect some types of work. Workers that work in road construction companies remain unemployed during rainy season

No5bii)
Structural Unemployment: This arises as a result of slight changes in the industrial structure of a country workers will be retrenched as a result of economic recession and it happened in Nigeria in 1984, when many firm folded up as a result of this.
iii) Friction Unemployment; it arises when people leave their present job with the hope of getting a new and better one but fail to do so

No5iv) Cyclical Unemployment: If there is a decrease in the quantity of goods demanded or there is over-production which results in fall in prices, industries will be affected, which may cause retrenchment or lay-off of workers in the industries affected.

 No3a)
Optimum population may be defined as that population which is neither too small nor too large but which when combined with the available resources and given the level of existing technology secure a maximum return per head
No3b)
i) It increases the government expenditure 
ii) It leads to fall in standard of living
iii) It leads to increase in the number of dependents

 No(8a)
Tax is a compulsory contribution to state revenue, levied by the government on worker's income and business profits, added to the cost of some goods, services and transaction.

8(bi)
A progressive tax is a tax in which the tax rate increases as the taxable amount increases. the term "progressive" refers to the way the tax rate progresses from low to high.
8(bii)
Proportional tax is a tax imposed so that the tax rate is fixed, with no change as the taxable base amount increases or decreases. The amount of tax is in proportion to the amount subject to taxation.
8(biii) 
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. "Regressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low, so that the average tax rate exceeds the marginal tax rate.
 8(ci)
Equity of a tax system concerns whether the tax burden is distributed fairly among the population. Vertical equity is the idea that taxpayer's with a greater ability to pay taxes should pay larger amounts.
Horizontal equity is the idea that taxpayer's with similar abilities to pay taxes should pay the same amount.

No5bii)
Structural Unemployment: This arises as a result of slight changes in the industrial structure of a country workers will be retrenched as a result of economic recession and it happened in Nigeria in 1984, when many firm folded up as a result of this.
iii) Friction Unemployment; it arises when people leave their present job with the hope of getting a new and better one but fail to do so

No5iv) Cyclical Unemployment: If there is a decrease in the quantity of goods demanded or there is over-production which results in fall in prices, industries will be affected, which may cause retrenchment or lay-off of workers in the industries affected.

 No3a)
Optimum population may be defined as that population which is neither too small nor too large but which when combined with the available resources and given the level of existing technology secure a maximum return per head
No3b)
i) It increases the government expenditure 
ii) It leads to fall in standard of living
iii) It leads to increase in the number of dependents

 No3c)
i) Family planing: family which involves every family giving birth to controllable number of children, adopted in a country will help to check or control both rapid growth and over population
ii) Public Enlightenment: Government can set up public enlightenment committee to enlighten people on the need of population control.
iii) Sex Education: though this, people are taught the implication of involving in any type of sex and how to do it without having unwanted pregnancy

 No7a)
Demand schedule shows the relationship between the quantity of goods demanded at a particular time and giving market price of the same goods of the same time 
No7b)
The law of demand states that the higher the price of a commodity, the lower the quantity demanded, and the lower the price, the higher the quantity demanded, ceteris paribus.

No(2a)
MR = TR\ Q

I) for QTY 15= 30-0\15-0  30\15=&2

 For qty 35= 70-30\35-15 =40\20=&2

For qty 60= 120-70\60-35 =50\25 =&2

Ii) MC=TC\Q
    For QTY 15= 45-15\15-0 =30\15=&2
 For QTY 35= 70-45\35-15    =25\20 =&1.25
For QTY 60= 90-70\60-35 =20\25= &0.8
For 85=105-90\85-60=15\25=&0.6

2bi) break even output = 15
Ii) highest profit is at =85
Iii)attains equilibrium at=QTY 35

2c) the market structure is a perfect market. Reason is a that marginal revenue is constant

ECONS OBJ
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