AIEEE Questions

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The nervous system of the human brain consists of the central nervous system which has brain and the spinal cord and the peripheral nervous system which has perpheral, cranary, spinal nerves.

Metonymy is a figure of speech in which a thing or concept is referred to by the name of something closely associated with that thing or concept. Hence it occurs when a word is replaced by a word that has an obvious relation to itself.

In the given example of the text, the bones refer to the human being.

Prices do not reflect the full social cost of production is an example of Market failure.

A market failure occurs when the supply of a good or service is insufficient to meet demand. This results in an inefficient distribution of resources among market participants.

It also occurs if externalities are not accounted for.

If a firm fails to maximize its profits this is not a general market failure.

Windhoek is the Capital of Namibia.

Economic resources are those goods and services that can be converted into valuable products for individual and business purposes.

There are four major types of economic resources:

1. land,

2. labor,

3. capital and

4. entrepreneurship.

Land and labor are natural and human resources, while capital means physical resources or money.

Entrepreneurship converts these resources into usable goods.

However, resources have finite values, and proper utilization depends on economic systems and economic decisions.