SS 1 Economics (1st, 2nd & 3rd Term)

economics

MINING & MINERAL

DEFINITION OF MINING Mining: is the process of getting coal, gold and other minerals from under the ground by making a deep hole or holes where these minerals are dug. That is, it is an extraction of minerals from under the ground through the process of digging deep holes into the grounds. Mining is one […]

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economics

THE MIDDLEMEN

The middlemen are the wholesalers and the retailers who are in-between the producers and the consumers. They specialize in performing activities relating to purchase and sales of goods in the process of their flow from the manufacturers to the final consumers. The presence of the middlemen in the distributive trade cannot be overlooked as they

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economics

DISTRIBUTIVE TRADE

Distributive Trade-which is also known as the chain of distribution, refers to the various stages or channels through which finished goods are moved from the manufacturers/producers to the final consumers . That is, it is the process of getting goods from the producer to the final consumers. There are various channels through which goods get

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Commerce (SS)

MERCHANT BANKS & DEVELOPMENT BANKS

MERCHANT BANKS (INVESTMENT BANKS) This may be defined as financial institutions that provide medium and long loans, accept large deposits from customers and acts as issuing houses. They deal with high net worth individuals, companies, other financial institutions and government agencies. FUNCTIONS OF MERCHANT BANKS They give medium and long term loans to individuals, organizations

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Commerce (SS)

NEGOTIABLE INSTRUMENTS

A negotiable instruments is an instrument whose title (or ownership) on it could be transferred by delivering it to another person with or without endorsement. Examples of negotiable instruments are bills of exchange, cheques, bank drafts, bill of lading, dividend warrants, treasury bills, bank notes and coins promissory notes debentures payable to bearer, bearer bonds,

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Commerce (SS)

CHEQUE SYSTEM

A cheque is a bill of exchange drawn on a banker payable on demand PARTIES TO A CHEQUE There are three parties involved with a cheque namely: The Drawer – .i.e. the person who issues the cheque The Drawee – .i.e. the bank being instructed to pay the money The Payee – .i.e. the person

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Commerce (SS)

COMMERCIAL BANKS: CHARACTERISTICS, FUNCTIONS & TYPES OF BANK ACCOUNTS

COMMERCIAL BANKS A commercial bank is a financial institution which accept deposits and other valuables from the public for safe-keeping lend money to people and firms and perform other auxiliary services with the sole aim of making profit. A commercial bank is owned by private individual organizations or government. It is a limited liability company.

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Commerce (SS)

PARTNERSHIP: TYPES, ORDINARY PARTNERSHIP & LIMITED PARTNERSHIP

TYPES OF PARTNERSHIP There are two main types of partnership business namely: Ordinary Partnership (or General partnership) The Limited Partnership THE ORDINARY PARTNERSHIP (GENERAL PARTNERSHIP) Characteristics or features: Membership/Number of partners: May consist of between 2 to 20 persons. However by the companies Act 1967 this restriction of not more than 20 persons no longer

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economics

LABOUR FORCE

THE CONCEPT OF LABOUR FORCE Labour force can be defined as the total number of people of working age in a country who are gainfully employed and those who fall within the age bracket, capable and willing to work by law but have no work to do in a country at a particular period of

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economics

POPULATION CENSUS

A population census refers to the head – count of the people. It is the process by which the number of people living in a country or a given geographical area is counted. It developed countries it is carried out by the government at regular intervals, usually every ten years. Population census provides information about

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economics

POPULATION

Population refers to the total number of people living within a geographical area or country at a particular time. FACTORS AFFECTING POPULATION GROWTH There are three major factors which determine the size and rate of growth of a country’s population. These can be summarized in the following formula; r = Birth Rate – Death Rate

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