Jss 3 Social Studies Second Term Week 10

Subject  Social Studies

Class : Jss 3 Year 9 

Term :  Second Term

WEEK 10 –REVISION

TYPES OF INSURANCE

1. Agricultural insurance
2. Fire insurance
3. Marine insurance
4. Whole life insurance
5. Fidelity guarantee
6. Cash in transit insurance
7. Motor vehicle insurance
8. Health insurance
9. Liability insurance
10. Group insurance
11. Home insurance
12. Credit insurance etc[mediator_tech]

Disadvantages of privatization

1. It can lead to inflation
2. It brings about inter- company conflict
3. Results in lack of transparency
4. Wealth will be concentrated in the hands of few private individuals and will not be available for public benefit.
5. Unemployment and poverty due to downsizing and forced retirement.
6. Fragmentation of industries.
7. There is the problem of regulating private monopolies
8. Short termism of firms
9. It could lead to cuts in essential service especially to the less privileged
10. Political influence
11. Exploitation of workers by the private firms involved.
12. Exploitation of consumers.

[mediator_tech]

Objective Test:

1. Before independence, Nigerian economy was purely an ———–
2. Oil sector economy (b) agrarian economy (c) Diversified economy

(d Import oriented economy.

1. Today, the bulk of Nigeria’s foreign exchange earnings come from ————
2. Oil exportation (b) agricultural exportation (c) exportation of other mineral resources other than crude oil (d) earnings from tourism and local artifacts
3. ———– 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.
4. Diversification of the economy (b) deregulation of the economy (c) Monetization of the economy (d) export base economy.
5. ————– depends almost entirely on one source of national production to finance her economy.
6. Product oriented economy (b) Mono product economy (c) Diversified economy (d) oil sector economy
7. A country that import more goods than she export to sustain her economy is said to be ————
8. Mono product economy (b) diversified economy (c) Import oriented (d Monetized economy