economics assignment
NAME: Onuoha Nkemjika
CLASS: SS1a
SCHOOL: Professor Enoch Anyanwu Christ’s Education (PEACE) College
SUBJECT: Economics take home assignment.
Questions:
1. Write the attributes and characteristics of partnership.
2. Discuss five types of co-operative society.
3. Discuss four factors that determine the form of a business unit.
Answers:
1a. Transfer of ownership: In partnership, the transfer of ownership whether to a new or existing partner, requires approval of the remaining partners.
1b. Ease of formation: other than registration, a partnership has few requirements to be formed.
1c. numbers of partners: The informality of decision making in a partnership tends to work well with a small number of partners. Having a large number of partners, particularly if all are involved in operating the business, can make decisions much more difficult.
2a. consumer’s co-operative: This type of co-operative are organized by consumers who wish to advance in investment in retail purchases. The main essence is to enable the consumer obtain goods at lower prices.
2b. producer’s co-operative: This type of co-operative is organized by producers, mainly primary producers, who want to market their products themselves.
2c. retail co-operative: use their purchase power to acquire discounts from manufacturers and often share marketing expenses. A retailers' cooperative is essentially a group of independently owned businesses that pool their resources to purchase in bulk, usually by establishing a central buying organization, and engage in joint promotion efforts
2d. thrift and credit co-operative: this type of co-operative is organized to encourage saving among members. Members deposit their saving with the co-operative and when they need loans, they ask for the society’s help.
2e. multipurpose co-operative: this co-operative is organized by a group of people who want to advance their interests in diverse ways. The co-operative dangles into different activities that will be of benefit
CLASS: SS1a
SCHOOL: Professor Enoch Anyanwu Christ’s Education (PEACE) College
SUBJECT: Economics take home assignment.
Questions:
1. Write the attributes and characteristics of partnership.
2. Discuss five types of co-operative society.
3. Discuss four factors that determine the form of a business unit.
Answers:
1a. Transfer of ownership: In partnership, the transfer of ownership whether to a new or existing partner, requires approval of the remaining partners.
1b. Ease of formation: other than registration, a partnership has few requirements to be formed.
1c. numbers of partners: The informality of decision making in a partnership tends to work well with a small number of partners. Having a large number of partners, particularly if all are involved in operating the business, can make decisions much more difficult.
2a. consumer’s co-operative: This type of co-operative are organized by consumers who wish to advance in investment in retail purchases. The main essence is to enable the consumer obtain goods at lower prices.
2b. producer’s co-operative: This type of co-operative is organized by producers, mainly primary producers, who want to market their products themselves.
2c. retail co-operative: use their purchase power to acquire discounts from manufacturers and often share marketing expenses. A retailers' cooperative is essentially a group of independently owned businesses that pool their resources to purchase in bulk, usually by establishing a central buying organization, and engage in joint promotion efforts
2d. thrift and credit co-operative: this type of co-operative is organized to encourage saving among members. Members deposit their saving with the co-operative and when they need loans, they ask for the society’s help.
2e. multipurpose co-operative: this co-operative is organized by a group of people who want to advance their interests in diverse ways. The co-operative dangles into different activities that will be of benefit