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

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

Before June 2004, there were 89 banks in Nigeria with 3,382 branches network.  The banking sector was characterized with structural and operational weaknesses such as: Low capital base: Dominance of… Read More »ECONOMIC REFORM PROGRAMS | EFCC, ICPC, NAFDAC & SON

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

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

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… Read More »ECONOMIC DEVELOPMENT PLANING

Economic Growth: A country is said to achieve economic growth when there is an increase in the volume of National output (National Income) arising from an expansion in production.  When… Read More »ECONOMIC GROWTH AND DEVELOPMENT | CAUSES, SOLUTIONS, STATEGRIES, CHARACTERISTICS

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… Read More »DEFICIT BALANCE OF PAYMENT

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… Read More »INTERNATIONAL TRADE II

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… Read More »INTERNATIONAL TRADE I

Agencies that regulate money market Central Bank of Nigeria (CBN) Nigeria Deposit Insurance Corporation (NDIC)   CENTRAL BANK OF NIGERIA The central bank is the apex financial institution in a… Read More »REGULATORY AGENCIES OF FINANCIAL INSTITUTION

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… Read More »SERVICE INDUSTRY

MANUFACTURING INDUSTRIES Manufacturing refers to the turning of raw material into new products by mechanical or chemical processes at home or in the factory. Manufacturing industry is concerned with the… Read More »MANUFACTURING AND CONSTRUCTION INDUSTRIES

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… Read More »PETROLEUM AND THE NIGERIAN ECONOMY

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… Read More »HUMAN CAPITAL DEVELOPMENT

ECONOMIC HISTORY OF THE ASIAN TIGERS AND JAPAN (1960-2000) The term Asian Tiger refers to a group of countries in the south east of Asia which includes Hong Kong which… Read More »ASIAN TIGERS, JAPAN, EUROPE AND AMERICA