Question Detail

GST 112 Study Session 11: Labour and Culture in The Pre-Colonial Period Objective Question
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Question

The pre-colonial insurance institutions like 'Apo Ijo', 'Otu', Esusu, and Aro aimed to:
Options
A Generate profit through investment.
B Provide indemnification for losses.
C Emphasize mutual responsibilities and alleviate poverty.
Correct Answer
D Serve as government-regulated financial bodies.
Correct Answer

Option C is the correct answer.

Detailed Explanation

The text states: 'There were diverse insurance institutions in pre-colonial Nigerian communities which emphasized mutual responsibilities and obligations while expressing a desire to alleviate poverty rather than indemnify.' They also functioned as 'credit and social security organisations'.

Hint

What was the core social and economic philosophy behind these traditional systems?

Question Info

Course: GST 112
Topic: Study Session 11: Labour and Culture in The Pre-Colonial Period
Type: Objective
Difficulty: Not specified
Question 604 of 1270
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