by Sunday | Sep 30 | NABTEB QUESTIONS
Thomas Malthus wrote his essay on the principle of population at a time when population was growing rapidly in England. He argued that population was growing at a geometric rate while the means of livelihood was growing at an arithmetic rate which was a dangerous...
by Sunday | Sep 30 | NABTEB QUESTIONS
i. To enable consumers make the best use of their resources so as to obtain maximum satisfaction. ii. It guides firms and government in the allocation of scarce resources iii. Economics provides the training ground for critical thinking iv. The study of economics...
by Sunday | Sep 29 | NABTEB QUESTIONS
Advantages of division of labour includes: i. Saving of time ii. Greater output iii. Reduction of fatigue iv. Reduction of cost per unit of production v. Continuous repetition of a task increases the skill of the workers vi. Division of labour is associated with...
by Sunday | Sep 29 | NABTEB QUESTIONS
Disadvantages of division of labour: i. Monotony breeds boredom and loss of interest in the job ii. There is greater risk of unemployment iii. Division of labour may reduce the craftsmanship in labour for the worker. iv. Interdependence which is a by product of...
by Sunday | Sep 29 | NABTEB QUESTIONS
Division of labour is an arrangement by which the production process is divided into separate tasks with each task being manned by different persons or a group of persons.
by Sunday | Sep 29 | NABTEB QUESTIONS
Functions of money: i. Medium of exchange: transactions are facilitated through the use of money exchange ii. Unit of accounts: Money serves as a means of keeping financial records arising from economic transactions. Such records include income and expenditure,...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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