FREE WAEC 2020 ECONOMICS EXPO..... VITALNEWS4U.BLOGSPOT.COM

: (6a)

Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. ... Money can be: market-determined, officially issued legal tender or fiat moneys, money substitutes and fiduciary media, and electronic cryptocurrencies.

(6bi)

value of money, then, is the quantity of goods in general that will be exchanged for one unit of money. The value of money is its purchasing power, i.e., the quantity of goods and services it can purchase.

(6bii)

demand for money is the desired holding of financial assets in the form of money. In othet words that is, cash or bank deposits rather than investments. 

(6c)

(i)The price of the good or service.

(ii)The income of buyers.

(iii)The prices of related goods or services—either complementary and purchased along with a particular item, or substitutes and bought instead of a product.

(iv)The tastes or preferences of consumers will drive demand.

[8/19, 9:03 AM] Waec 6: QUESTION 6

6(a)Money is anything that is generally acceptable as a medium of exchange and in the settlement of debts.Money can also be defined as anything that is generally acceptable as a means of payment🇳🇬🇳🇬🇳🇬

: (6a)

Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. ... Money can be: market-determined, officially issued legal tender or fiat moneys, money substitutes and fiduciary media, and electronic cryptocurrencies.

(6bi)

value of money, then, is the quantity of goods in general that will be exchanged for one unit of money. The value of money is its purchasing power, i.e., the quantity of goods and services it can purchase.

(6bii)

demand for money is the desired holding of financial assets in the form of money. In othet words that is, cash or bank deposits rather than investments. 

(6c)

(i)The price of the good or service.

(ii)The income of buyers.

(iii)The prices of related goods or services—either complementary and purchased along with a particular item, or substitutes and bought instead of a product.

(iv)The tastes or preferences of consumers will drive demand.

QUESTION 6

6(a)Money is anything that is generally acceptable as a medium of exchange and in the settlement of debts.Money can also be defined as anything that is generally acceptable as a means of payment🇳🇬🇳🇬🇳🇬

: 5a) A joint venture is a cooperative arrangement between two or more business entities, often for the purpose of starting a new business activity. Each entity contributes assets to the joint venture and agrees on how to divide up income and expenses.

(6a)

Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. ... Money can be: market-determined, officially issued legal tender or fiat moneys, money substitutes and fiduciary media, and electronic cryptocurrencies.

(6bi)

value of money, then, is the quantity of goods in general that will be exchanged for one unit of money. The value of money is its purchasing power, i.e., the quantity of goods and services it can purchase.

(6bii)

demand for money is the desired holding of financial assets in the form of money. In othet words that is, cash or bank deposits rather than investments. 

(6c)

(i)The price of the good or service.

(ii)The income of buyers.

(iii)The prices of related goods or services—either complementary and purchased along with a particular item, or substitutes and bought instead of a product.

(iv)The tastes or preferences of consumers will drive demand.

 8a) Public Debt is the money owed by the Union government, while private debt comprises of all the loans raised by private companies, corporate sector and individuals such as home loans, auto loans, personal loans.

: 8a:Public debt is the total amount, including total liabilities, borrowed by the government to meet its development budget. It has to be paid from the Consolidated Fund of India. The term is also used to refer to overall liabilities of central and state governments, but the Union government clearly distinguishes its debt liabilities from the states.

: 6biii

Circulating capital is money being used for core operations of a company. Circulating capital includes cash, operating expenses, raw materials, inventory in process, finished goods inventory, and accounts receivable. 

3a

Consumer goods are products bought for consumption by the average consumer. Alternatively called final goods, consumer goods are the end result of production and manufacturing and are what a consumer will see stocked on the store shelf. Clothing, food, and jewelry are all examples of consumer goods.

3bi

Fixed capital is the portion of total capital outlay of a business invested in physical assets such as factories, vehicles, and machinery that stay in the business almost permanently, or, more technically, for more than one accounting period

3bii

Social capital basically comprises the value of social relationships and networks that complement the economic capital for economic growth of an organization

Examples of social capital include when someone opens a door for someone, returns a lost item to a stranger, gives someone directions, loans something without a contract, and any other beneficial interaction between people, even if they don't know each other.

Circulating capital is also called working capital  or revolving capital8

a:Public debt is the total amount, including total liabilities, borrowed by the government to meet its development budget. It has to be paid from the Consolidated Fund of India. The term is also used to refer to overall liabilities of central and state governments, but the Union government clearly distinguishes its debt liabilities from the states.

1C)

Diminishing returns, also called law of diminishing returns or principle of diminishing marginal productivity, economic law stating that if one input in the production of a commodity is increased while all other inputs are held fixed, a point will eventually be reached at which additions of the input yield ...

[8/19, 9:25 AM] +234 903 838 6075: (5ai) A joint venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.

(5aii) (I) ease of establishment

          (ii) lower cost

8a) Public Debt is the money owed by the Union government, while private debt comprises of all the loans raised by private companies, corporate sector and individuals such as home loans, auto loans, personal loans.