Vision Christian Academy

Behind Zubah Town Market Name:____________Date:___________ Scores

__________________
Part I: Fill in the blank, with the correct answer

1. _____________________ is a group of firms producing similar products

and under separate administration of management.
2. ____________________ is a place where a firm carries out its productive
activities.
3. ____________________ may be defined simply as the sitting or
establishment of a firm or industry in an area.
✓ 4. ____________________ refers to the concentration of firms or
industries producing similar products in an area.
5.____________________ is the industry concerned with the
assembling of different components in order to get a finished product.

Part II: Essay

Direction: answer all question correctly and completely.
Income earner Income base Tax payment X$ Y$
Paul 15,000 15,000 1,200
Philip 25,000 2,000 2,000
Moses 32,000 3,200 2,000
Peter 60,000 6,000 3,000
A. Determine the percentage rate of taxation paid by
( I ) Paul in columns A and B.
( II) Peter in columns A and B.
(III) Philip in columns B.
(IV) Moses in columns B.
B. Which of the income earners has the least burden under columns B.
C. If government increases its flat rate of taxation to 15% flat rate how much
revenue will be generated from the payees?
(II) At 15% flat rate of taxation calculate the disposable incomes of Paul, Philip,
Moses, Peter.
2. Give reasons for the sitting of industries in the rural areas of
Liberia.
3. Give the reasons for the low rate of industrial growth in your country.
4. Distinguish between (I) a firm and an industries (II) location and
localization of industries (b) Describe any four factors which influence the
location of industries in your country.