Subject Social Studies
Class : Jss 3 Year 9
Term : Second Term
WEEK 10 –REVISION
TYPES OF INSURANCE
- Agricultural insurance
- Fire insurance
- Marine insurance
- Whole life insurance
- Fidelity guarantee
- Cash in transit insurance
- Motor vehicle insurance
- Health insurance
- Liability insurance
- Group insurance
- Home insurance
- Credit insurance etc[mediator_tech]
Disadvantages of privatization
- It can lead to inflation
- It brings about inter- company conflict
- Results in lack of transparency
- Wealth will be concentrated in the hands of few private individuals and will not be available for public benefit.
- Unemployment and poverty due to downsizing and forced retirement.
- Fragmentation of industries.
- There is the problem of regulating private monopolies
- Short termism of firms
- It could lead to cuts in essential service especially to the less privileged
- Political influence
- Exploitation of workers by the private firms involved.
- Exploitation of consumers.
[mediator_tech]
Objective Test:
- Before independence, Nigerian economy was purely an ———–
- Oil sector economy (b) agrarian economy (c) Diversified economy
(d Import oriented economy.
- Today, the bulk of Nigeria’s foreign exchange earnings come from ————
- Oil exportation (b) agricultural exportation (c) exportation of other mineral resources other than crude oil (d) earnings from tourism and local artifacts
- ———– is the expansion of the economic (product) base of that nation, so that it can rely on a variety of them for the economic survival of the nation.
- Diversification of the economy (b) deregulation of the economy (c) Monetization of the economy (d) export base economy.
- ————– depends almost entirely on one source of national production to finance her economy.
- Product oriented economy (b) Mono product economy (c) Diversified economy (d) oil sector economy
- A country that import more goods than she export to sustain her economy is said to be ————
- Mono product economy (b) diversified economy (c) Import oriented (d Monetized economy
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