WAEC GCE ECONOMICS OBJ AND ESSAY from ENGR NASER DAHER 09030302775

By ENGR NASER DAHER -
NOTE OUR SUBSCRIPTION FOR JAMB AND WAEC IS STILL ON
[10:22AM, 2/6/2018] ENGR Naser Daher: 4

The net migration rate is the difference between
the number of immigrants (people coming into
an area) and the number of emigrants (people
leaving an area) throughout the year.  When
the number of immigrants is larger than the
number of emigrants, a positive net migration
rate occurs. A positive net migration rates
indicates that there are more people entering
than leaving an area


6a
Economies of scale is an economics term that describes a competitive advantage that large entities have over smaller entities. It means that the larger the business, non-profit or government, the lower its costs. For example, the cost of producing one unit is less when many units are produced at once.

7a) A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.
[10:22AM, 2/6/2018] ENGR Naser Daher: 1aii

 I. Socialism
 Ii. Capitalism

1aii
I.communism
Ii. Socialism

1b

One of the main disadvantages of a capitalistic system is a huge discrepancy in the rates of wages. Because of significant differences in income, money in a capitalistic system is distributed disproportionately. Capitalist economies generally have a substantial group of residents living near or below the poverty level and at the other end of the spectrum, a select few living in immense luxury. Capitalist systems have repeated cycles of financial crises, inflation, recession and stagflation, with the possibility of major economic depressions. Job insecurity is ever-present in a capitalistic system and periods of high unemployment are the norm.

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