2a.
A regressive tax is a tax system where the tax rate dicreases as income increase.It is a tax system in which the higher the income of the consumer, the lower the tax rate.
(2b)
Toyota – tax paid=#20,000*10=#200,000
Volvo-tax paid=25,000*5=#125,000
Honda-tax paid=15,000*8=120,000
Honda-tax paid=#5000*20=#100,000
Mazda-tax paid=10,000*15=150,000
(2c)
total amount of tax paid by the importer for the motors:-200,000 125,000 120,000 100,000 150,000=#695,000.00
(3)
The negative effects of a rapidly increase population are as follows:-
1,pressure on natural resources:-Natural resources like fertile farmlands animals etc becomes over-exploited When there is high population growth in an area
2-Increase in crime rate:- areas of high population density are usually associated with high crime rate like armed robbery,car snatching,hired assassination etc.
3-Insufficient food:-as a result of the high inflix of people into an area,there will not be sufficient food to cater for the high population which leads to food shortage.
4-Unemployment/underemployment:-areas of high population density usually do not have enough jobs for the over increasing population and this leads to unemployment and underemployment.
5-Inadequate housing:-high population concentration leads to poor accommodation as the houses available may not be enough for the high population.
(7a)
Money May be defined as anything that is generally acceptable as a medium of exchange for making payments, settlement of depts or other business obligations
(7b)
Demands For money means the desire to hold in hand or cash form as against spending the money. The meaning of demand for money is quits different from demand for for goods and services. People do not spend all their salaries when they are received at the end of the month. Therefore the portion of their salaries kept with them and not spent immediately they are received is what we term demand for money. It is also known as liquidity preference.
(7c)
1.Transaction motive:- people desire to keep or hold money the day to day transactions such as buying of foodstuffs and other daily needs
2.Precaution motives:- money is also demanded in order to meet up with unforeseen circumstances or cortigencies.
3.Speculative motive:- people also keep money with the hope of using such money in making quick money
(9a)
stock exchange is the buying and selling of existing security like shares stock,debentures etc. It’s an essential part of the capital Manet to serve as a source of raising capital as well as a forum for financial investment.
(9b)
1-It leads to increase in the standard of living investment opportunities will lead to more income which will affect consumption, there by increasing the standard of living of the citizens of accounting.
2-It private a yard stock for measuring the performance of companies the price quoted can be used to measure the performance of company as only ground and efficient companies are quoted on the stock market.
3-It’s a market for investment:-the stock exchange provide on avenue for people to invest in any sector of the economy.
4-provision of information for investors:-investors especially foreign investors can obtain necessary information about the investment situation of a country.
(10a)
Balance plight payment can be defined as three relationship between the sum total of a country’s payment for her imports and receipts for her exports. It’s a statement on income and expenditure on international account.
(10b)
1-low level of agricultural production:-this makes a country dependent on food imports and imported inputs for agricultural product.
2-Low level of technological development:-this makes the country involved to import more advanced technology at the expense of exports.
3-Inadequacy in export promotion storage:-export promotion strategies aimed at more earnings for a country are inadequate.
4-Existence of import dependent industries:-these industries reduce the country’s earnings as they demand for scarce foreign exchange in order to procure machines and raw materials from abroad.
5-Poor social and economic infrastructure:-this contribute greatly to low capacity utilization in the industrial sector rate bad roads,poor communication facilities etc.
(12)
-To fasten economic growth and
economic development in the region
involved
-It aims at increasing trade co-operation
and thereby increasing economic
activities among member countries
-To enlarge their local market and
increase the participation of member
nations in world market
-To increase their productive capacity
through exchange of raw material and
thereby lowering the units cost of their
products.
-It is aimed at increasing the level of
employment opportunities among the
member nations involved.
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