Consequences of population in Nigeria are:
Congestion: over population leads to congestion, this congestion occurs in areas of traffic [i.e. Lagos], housing [i.e. Onitsha] lands and schools.
Increase in rent. The amount of money people pay for house has increased greatly because many people are chasing the few available houses especially in the urban areas. A good example is Lagos where it is difficult and very expensive to get both residential houses and offices. The amount also paid for land usage is exorbitant.
High rate of illiteracy. The rate of illiteracy has increased because not all that are willing to go to school has been given the opportunity and can afford it as a result of too many people in the country.
It causes unemployment. There are too many applicants that are competing for the few available jobs or employment opportunities recently. The result of this unemployment and also unemployed people in the country
High rate of crime. Over population has led to increase in such crimes as armed robbery, rape, murder, drug pushing, and arson. As many unemployed people strive for survival.
(a) Money maybe defined as anything that is generally as a medium of exchange for making payments, settlements of debts or business obligations.
(b) The reason people hold money are:
Transaction motive. People desire to hold money for day to day transactions such as buying of foods stuffs and other daily family use or needs. The amount to be kept for this purpose is determined by the amount that is received as income and the extent of ones need.
Precautionary motive. Money is also held in other to meet with unforeseen circumstances or contingencies or unexpected expenditures such as sickness, unexpected visitors, break down or damage of ones car.
Speculative motive. People also keep money with the hope of using it in making quick money. For instance money maybe held with the hope of giving it out in the form of loan if the rate of interest is high and at a short period of time. Buying goods like cars at lower prices and reselling it at higher prices. Therefore it is the demand for money for investment purposes.
(a)Mobility of labour refers to the movements of labor from one occupation, work place or geographical place to another.
(b) Causes of mobility of labor are:
Unfavorable working conditions. This may force a worker to change from one industrial set up to another. Lack of such things as good lavatories, staff buses, equipped offices, workshops, etc. may constitute unfavorable working conditions.
Marriage. Marriage can cause woman to move their labour. A working class lady who is newly married may have to move away from her place of work or even change occupation in order to be in the area where her husband is residing and working.
Irregular payment of salaries. Where workers are not paid their salaries and as when due they will be forced to change to other establishments or industries. Industrial mobility of labor may occur as a result of irregular payments of salaries to workers.
Promotion. A worker can be promoted from one section of an industry to another or even from one geographical area to another.
Bad management. Some management is so dictatorial and tyrannical that workers may not tolerate that and may decide to change to other sections or firms.
(a) Production can be defined as the transformation of raw materials into finished goods and the distribution and the provision of goods and services in order to satisfy human wants. Production is said to be completed when the goods and services produced reach the final consumers,
(b) Factors that determine the volume of production in a firm.
The quantity and quality of factors of production. Example the amount of capital determines the labour to be hired and raw materials to be bought. The quality and quantity of land available determine the agricultural product or output and the size of factory to be built.
The size of the market. The size of markets is the extent the products produced is in demand. The more demand the more the production.
Availability of raw material. The raw materials available will determine the quantity of goods that will be produced. If the raw materials available are not enough production will be greatly affected.
Attitude of workers. The attitude of workers of a firm to work has a lot influence on the volume of production. If workers show negative attitude, it will affect the volume of goods to be produced.
(a) Tax may be defined as a compulsory contribution imposed by government authority on goods, services and individuals, corporate bodies etc. irrespective of the exact amount of services rendered to the tax payer in return and not imposed as a penalty for any legal offence.
(b) Disadvantages of direct taxes are:
They may cause deflation. When taxes are high, the reduce the volume of money in circulation than available goods and services thereby causing deflation.
They discourage savings. What maybe left after paying direct taxes may not in any way encourage any form of savings.
Discouragement of hard work. The workers may feel that hard work will lead to more income while on the other hand will attract more taxes which they may consider as unprofitable exercise.
They may cause disincentive to invest. When company and profit taxes are high, they discourage investment.
Posted by Da WebGeek