SS 3 Economics (1st, 2nd & 3rd Term)

economics

IMPERFECT MARKET

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 market is a market situation in which the force of demand and supply do not operate freely.                 […]

IMPERFECT MARKET Read More »

economics

CURRENT ECONOMIC PLANS | MDGs, NEEDS & VISION 2020 (GOALS, VISIONS & OBJECTIVES)

The millennium development plans are eight international development goals that were officially established following the millennium summit of the United Nations in 2000. OBJECTIVE OF MDGs Goal 1: Eradicate extreme poverty and hunger. Target 1: Half of the population between 1990 -2015 whose income is less than one dollar a day be reduced. Target 2:

CURRENT ECONOMIC PLANS | MDGs, NEEDS & VISION 2020 (GOALS, VISIONS & OBJECTIVES) Read More »

economics

INTERNATIONAL ORGANIZATION | ECOWAS, IMF, IBRD, ADB, ECA, UNCTAD, EU

What is ECOWAS?: The Economic Community of West African States was founded on May 28th 1975 in Lagos, Nigeria.  It comprised all the 16 independent nations of West African.  Abuja and Lome serve as the administrative and fund headquarter respectively.  The body was formed under the leadership of General Yakubu Gowon and President Eyadena.  MEMBERSHIP

INTERNATIONAL ORGANIZATION | ECOWAS, IMF, IBRD, ADB, ECA, UNCTAD, EU Read More »

economics

ECONOMIC DEVELOPMENT PLANING

As discussed in Week 2 and 3 respectively that economic development is an essential feature of any country. In achieving this, there is need to influence some principal economic variables such as production, distribution, inflation, import and export in order to achieve a predetermined goal and objectives.  Then Economic planning can be simply defined as

ECONOMIC DEVELOPMENT PLANING Read More »

economics

DEFICIT BALANCE OF PAYMENT

BALANCE OF TRADE Balance of Trade – This is the comparison of a country’s total visible exports with her total visible imports.  When visible exports with her total visible imports in monetary terms are equal we have Balance of Trade.  A positive or favourable Balance of Trade – means that a country is exporting more

DEFICIT BALANCE OF PAYMENT Read More »

Data Processing (secondary)

INTERNATIONAL TRADE II

International Trade Advantages International trade generates the exchange of goods and services among the nations of the world to mutual advantages of all participating countries. Promotion of economic development. International trade provides employment opportunities. It enhances international specialization. It leads to increase in world output. International trade promotes friendship among nations of the world. International

INTERNATIONAL TRADE II Read More »

Data Processing (secondary)

INTERNATIONAL TRADE I

One way by which we live better on earth today is because international trade permits national, regional or territorial division of labour to be practiced.  International trade also known as foreign trade or external trade involves the exchange of goods and services between two or more countries. TYPES OF INTERNATIONAL TRADE There are two major

INTERNATIONAL TRADE I Read More »

Data Processing (secondary)

SERVICE INDUSTRY

SERVICE INDUSTRIES This is also known as the tertiary sector of industry.  It involves the provision of services to business as well as to the final consumers.Service involves doing something for the consumers, which could be personal or indirect services.   EXAMPLES OF SERVICE INDUSTRY Tourism attraction: This is concerned with all the activities of

SERVICE INDUSTRY Read More »

Data Processing (secondary)

PETROLEUM AND THE NIGERIAN ECONOMY

Petroleum was discovered in commercial quantity in 1956 by shell BP at Oloibiri in the present River State.  Ever since 1976 till date, petroleum has remained the major source of government revenue in Nigeria.   POSITIVE CONTRIBUTIONS OF PETROLEUM TO NIGERIA ECONOMY Petroleum serves as sources of revenue to the country. Employment generation e.g. petroleum

PETROLEUM AND THE NIGERIAN ECONOMY Read More »

Data Processing (secondary)

HUMAN CAPITAL DEVELOPMENT

HUMAN CAPITAL Human Capital refers to the skills, training, experience, education, knowledge, technical know-how and competencies contributed by humans to production process.   Human capital is an important factor of production. It is the value that is added into a company by an employee which can be measured by the employee’s skills and competencies of

HUMAN CAPITAL DEVELOPMENT Read More »

Move to Study in the US, UK

Acadlly
error: Content is protected !!