SS 3 Economics (1st Term)

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 »

Acadlly
error: Content is protected !!