Economics

A budget may be defined as a financial statement of the total estimated revenue and the proposed expenditure of a government in a given period, usually a year. FUNCTION /… Read More »BUDGET

Taxation– is defined as the act of imposing a compulsory levy by the government on the income of individuals, firms, and goods and services. That is, it is a compulsory… Read More »TAXATION

Public finance– is defined as an aspect of economics which deals with the financial activities as relate to Income, Expenditure and the National Debts operations, with their overall effects on… Read More »PUBLIC FINANCE

Inflation This is a persistent rise in the general level of price of goods and services.  Inflation occurs when there is an increase in money supply without corresponding increase in… Read More »INFLATION

MONEY MARKET Money market is a market where short term securities are traded in.  The market comprises of institutions or individuals who either have money to lend or wish to… Read More »FINANCIAL INSTITUTIONS

DEMAND FOR MONEY Demand For Money: is the total amount of money which an individual, for various reasons, wish to hold. That is, it is the desire to hold money… Read More »MONEY

THE CONCEPT OF LABOUR FORCE Labour force can be defined as the total number of people of working age in a country who are gainfully employed and those who fall… Read More »LABOUR FORCE

THE MALTHUSIAN THEORY OF POPULATION The Malthusian theory of population is the outcome of an essay title ‘An essay on population written in 1798 by Reverend Thomas Robert Malthus, an… Read More »THEORIES OF POPULATION – FULL EXPLANATION

A population census refers to the head – count of the people. It is the process by which the number of people living in a country or a given geographical… Read More »POPULATION CENSUS

Population refers to the total number of people living within a geographical area or country at a particular time. FACTORS AFFECTING POPULATION GROWTH There are three major factors which determine… Read More »POPULATION

A private limited liability company is defined as one which by its activities restricts the rights to transfer its shares, limits the number of its shareholders from two to fifty,… Read More »PRIVATE LIMITED LIABILITY COMPANY

Business organization can be defined as an enterprise set up by an individual or group of individuals, government or its agencies for the main purpose of making profit and providing… Read More »BUSINESS ORAGNISATION | TYPES, PUBLIC ENTERPRISES, SOLE – PROPRIETORSHIP

FIRM The firm is an independently administered business unit carrying out production, construction, or distribution activities. Examples of firms in Nigeria are Dangote Cement, Cadbury Nigeria Plc. PLANT This is… Read More »DEFINITION OF FIRM, PLANT AND INDUSTRY FIRM

SCALE OF PRODUCTION This simply means the size of a firm’s productive capacity. The scale of production also refers to the size of the operation adopted by the firm. A… Read More »SCALE OF PRODUCTION | SMALL, MEDIUM & LARGE

Division of Labour is defined as a system of breaking down production processes into different stages so that each stage is undertaken or handled by an individual or group of… Read More »DIVISION OF LABOUR: ADVANTAGES, DISADVANTAGES, LIMITATIONS & SPECIALISATION

Capital can be defined as wealth reserved or set aside for the production of further wealth. Capital also refers to all man – made productive assets, that is all man… Read More »CAPITAL: TYPES OF CAPITAL, IMPORTANCE OF CAPITAL & ENTREPRENEUR

Localisation of  industries refers to the concentration of many firms of an industry in a particular area. Advantages And Disadvantages Of Localisation Localisation has both merits and limits. They are… Read More »LOCALISATION OF INDUSTRIES

Location of industry refers to the siting of an industry in a particular place.                       Factors Influencing Industrial Location Generally,… Read More »LOCATION OF INDUSTRY

Meaning Industry An industry consists of a group of firms producing broadly similar commodities. Examples are the shoe industry, the transport industry, the cement industry, etc. The production side of… Read More »INDUSTRIES IN NIGERIA

An imperfect market may be defined as a market in which prices of goods or services can easily be influenced by the sellers or buyers. In other words, an imperfect… Read More »IMPERFECT MARKET