Economics

WASSCE · NECO · UTME · NABTEB

Definition and Scopes Of Economics

Every scholar tends to define economics to suit his purpose, for instance,

1Definition Of Economics1 min · 4 questions→
🔒Scope of EconomicsFinish "Definition Of Economics" first
🔒Economics as a Social ScienceFinish "Scope of Economics" first
🔒Branches of EconomicsFinish "Economics as a Social Science" first
🔒Reasons for Studying EconomicsFinish "Branches of Economics" first
🔒Basic Concepts of EconomicsFinish "Reasons for Studying Economics" first
🔒Want, Scarcity & ChoiceFinish "Basic Concepts of Economics" first
🔒Opportunity CostFinish "Want, Scarcity & Choice" first
🔒Importance of Opportunity CostFinish "Opportunity Cost" first
🔒Scale of PreferenceFinish "Importance of Opportunity Cost" first
🔒Production Possibility Curve (PPC)Finish "Scale of Preference" first
🔒Relationship between PPC & Concept of Opportunity CostFinish "Production Possibility Curve (PPC)" first
🔒Importance of PPCFinish "Relationship between PPC & Concept of Opportunity Cost" first

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Factors of Production

Land is a gift of nature used in production. It includes minerals, rivers, vegetation, rocks, etc.

1Land1 min · 4 questions→
🔒Importance of Land to Economic ActivitiesFinish "Land" first
🔒LabourFinish "Importance of Land to Economic Activities" first
🔒Characteristics of LabourFinish "Labour" first
🔒Efficiency of LabourFinish "Characteristics of Labour" first
🔒Importance of LabourFinish "Efficiency of Labour" first
🔒CapitalFinish "Importance of Labour" first
🔒Types of CapitalFinish "Capital" first
🔒Importance of CapitalFinish "Types of Capital" first
🔒EntrepreneurFinish "Importance of Capital" first

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Economic Analysis

These are basic tools used in Economics for the interpretation and analysis of problems which are usually presented in statements that seem difficult to…

1Introduction1 min · 4 questions→
🔒TableFinish "Introduction" first
🔒GraphsFinish "Table" first
🔒Line Graph & Pie ChartFinish "Graphs" first
🔒Line Graph & Pie Chart (continued)Finish "Line Graph & Pie Chart" first
🔒Bar Chart, Pictogram & HistogramFinish "Line Graph & Pie Chart (continued)" first
🔒Bar Chart, Pictogram & Histogram (continued)Finish "Bar Chart, Pictogram & Histogram" first
🔒Bar Chart, Pictogram & Histogram (continued)Finish "Bar Chart, Pictogram & Histogram (continued)" first
🔒Measures of Central Tendency (Mean)Finish "Bar Chart, Pictogram & Histogram (continued)" first
🔒Advantages & Disadvantages of MeanFinish "Measures of Central Tendency (Mean)" first
🔒Measures of Central Tendency (Median)Finish "Advantages & Disadvantages of Mean" first
🔒Advantages & Disadvantages of MedianFinish "Measures of Central Tendency (Median)" first
🔒Measures of Central Tendency (Mode)Finish "Advantages & Disadvantages of Median" first
🔒Measures of Dispersion (Variance)Finish "Measures of Central Tendency (Mode)" first
🔒=Finish "Measures of Dispersion (Variance)" first
🔒Advantages & Disadvantages of VarianceFinish "=" first
🔒Measures of Dispersion (Standard Deviation)Finish "Advantages & Disadvantages of Variance" first
🔒Measures of Dispersion (Range)Finish "Measures of Dispersion (Standard Deviation)" first

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Economic Systems

An economic system is a system that defines how resources are owned and how production, distribution and consumption are organized and controlled in society.

1Definition of Economic System1 min · 4 questions→
🔒Capitalism or Free Market EconomyFinish "Definition of Economic System" first
🔒Advantages & Disadvantages of CapitalismFinish "Capitalism or Free Market Economy" first
🔒Socialism or Centrally Planned EconomyFinish "Advantages & Disadvantages of Capitalism" first
🔒Advantages & Disadvantages of SocialismFinish "Socialism or Centrally Planned Economy" first
🔒Mixed EconomyFinish "Advantages & Disadvantages of Socialism" first
🔒Advantages & Disadvantages of Mixed EconomyFinish "Mixed Economy" first
🔒Basic Economic Problems of the SocietyFinish "Advantages & Disadvantages of Mixed Economy" first
🔒What to ProduceFinish "Basic Economic Problems of the Society" first
🔒How to ProduceFinish "What to Produce" first
🔒For Whom to ProduceFinish "How to Produce" first
🔒Effective Allocation of ResourcesFinish "For Whom to Produce" first

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Demand

Demand can be defined as the ability and willingness to buy a specific quantity of goods or services at a given price and at a particular period of time.

1Definition of Demand1 min · 4 questions→
🔒Law of Demand(I)Finish "Definition of Demand" first
🔒Demand ScheduleFinish "Law of Demand(I)" first
🔒Demand CurveFinish "Demand Schedule" first
🔒Factors Affecting DemandFinish "Demand Curve" first
🔒Types of DemandFinish "Factors Affecting Demand" first
🔒Elasticity of DemandFinish "Types of Demand" first
🔒Meaning of Coefficients of ElasticityFinish "Elasticity of Demand" first
🔒Types of Price Elasticity of DemandFinish "Meaning of Coefficients of Elasticity" first
🔒Cross Elasticity of Demand and Income Elasticity of DemandFinish "Types of Price Elasticity of Demand" first
🔒Interpretation of price elasticity of demandFinish "Cross Elasticity of Demand and Income Elasticity of Demand" first
🔒Interpretation Cross Elasticity of Demand CoefficientFinish "Interpretation of price elasticity of demand" first
🔒Interpretation of Income Elasticity of Demand CoefficientFinish "Interpretation Cross Elasticity of Demand Coefficient" first
🔒Change in Quantity Demanded and Change in DemandFinish "Interpretation of Income Elasticity of Demand Coefficient" first
🔒Numerical illustration 1 (Question)Finish "Change in Quantity Demanded and Change in Demand" first
🔒Illustration 2Finish "Numerical illustration 1 (Question)" first
🔒Numerical Illustration 3Finish "Illustration 2" first

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Supply

Supply can be defined as the quantity of a commodity which a producer is willing and able to offer for sale at a particular price and at a particular period…

1Definition of Supply1 min · 4 questions→
🔒Law of SupplyFinish "Definition of Supply" first
🔒Supply CurveFinish "Law of Supply" first
🔒Supply ScheduleFinish "Supply Curve" first
🔒Types of SupplyFinish "Supply Schedule" first
🔒Factors Affecting Supply and Coefficient of ElasticityFinish "Types of Supply" first
🔒Types of Price Elasticity of SupplyFinish "Factors Affecting Supply and Coefficient of Elasticity" first
🔒Coefficient of Price Elasticity of SupplyFinish "Types of Price Elasticity of Supply" first
🔒Interpretation Cross Elasticity of SupplyFinish "Coefficient of Price Elasticity of Supply" first
🔒Change in Quantity Supply and Change in SupplyFinish "Interpretation Cross Elasticity of Supply" first
🔒Solution to the IllustrationFinish "Change in Quantity Supply and Change in Supply" first
🔒IllustrationFinish "Solution to the Illustration" first

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Equilibrium Price

The equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded.

1Equilibrium Price1 min · 4 questions→
🔒Equilibrium Price (continued)Finish "Equilibrium Price" first
🔒How to Determine Equilibrium Price with GraphFinish "Equilibrium Price (continued)" first
🔒How to Determine Equilibrium Price with Graph (continued)Finish "How to Determine Equilibrium Price with Graph" first
🔒How to Determine Equilibrium Price with Graph (continued)Finish "How to Determine Equilibrium Price with Graph (continued)" first

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Theory of Consumer Behaviour

Utility is the amount of satisfaction a consumer derives from the consumption of a commodity at a particular time. The word utility shouldn’t be…

1Meaning of Utility1 min · 4 questions→
🔒Forms of UtilityFinish "Meaning of Utility" first
🔒Concepts in UtilityFinish "Forms of Utility" first
🔒Relationship Between Total Utility and Marginal UtilityFinish "Concepts in Utility" first
🔒Introduction to the Law of Diminishing Marginal UtilityFinish "Relationship Between Total Utility and Marginal Utility" first
🔒Law of Diminishing Marginal UtilityFinish "Introduction to the Law of Diminishing Marginal Utility" first
🔒Approaches to Consumer BehaviorFinish "Law of Diminishing Marginal Utility" first
🔒Cardinal ApproachFinish "Approaches to Consumer Behavior" first
🔒Cardinal Utility (Introduction)Finish "Cardinal Approach" first
🔒Utility Maximization under the Cardinal ApproachFinish "Cardinal Utility (Introduction)" first
🔒Consumer SurplusFinish "Utility Maximization under the Cardinal Approach" first
🔒The Indifference CurveFinish "Consumer Surplus" first
🔒The Budget LineFinish "The Indifference Curve" first
🔒Utility Maximization under the Ordinal TheoryFinish "The Budget Line" first
🔒What is the slope of the indifference curve?Finish "Utility Maximization under the Ordinal Theory" first
🔒Utility Maximization under the Cardinal ApproachFinish "What is the slope of the indifference curve?" first

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Theory of Price Determination

The nature of the market where goods and services are traded determines the price of goods and services.

1Introduction1 min · 4 questions→
🔒Price Legislation (I)Finish "Introduction" first
🔒Functions of the Price SystemFinish "Price Legislation (I)" first

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Theory of Production

Production has diverse meanings, but the usage depends on the context in which it is used.

1Meaning of Production1 min · 4 questions→
🔒Types of ProductionFinish "Meaning of Production" first
🔒GoodsFinish "Types of Production" first
🔒Classification of ProductionFinish "Goods" first
🔒Concepts of ProductionFinish "Classification of Production" first
🔒Scale of ProductionFinish "Concepts of Production" first
🔒Economies of ScaleFinish "Scale of Production" first
🔒Diseconomies of ScaleFinish "Economies of Scale" first
🔒Isocost Lines & Isoquant CurvesFinish "Diseconomies of Scale" first
🔒Producer's EquilibriumFinish "Isocost Lines & Isoquant Curves" first
🔒Law of Variable ProportionsFinish "Producer's Equilibrium" first
🔒Marginal AnalysisFinish "Law of Variable Proportions" first
🔒Division of Labour & SpecialisationFinish "Marginal Analysis" first
🔒Advantages & Disadvantages of Division LabourFinish "Division of Labour & Specialisation" first
🔒Limitations to Division of LabourFinish "Advantages & Disadvantages of Division Labour" first
🔒Why Small Firms Survive in West AfricaFinish "Limitations to Division of Labour" first

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Cost

The concept of cost has two major talking points from two major professionals namely; the accountant and the economists. According to the accountant, the…

1Meaning of Cost1 min · 4 questions→
🔒Distinction between Economist's and Accountant's View of CostFinish "Meaning of Cost" first
🔒Cost ConceptFinish "Distinction between Economist's and Accountant's View of Cost" first
🔒Important Points Under Cost ConceptsFinish "Cost Concept" first
🔒Short Run and Long Run CostsFinish "Important Points Under Cost Concepts" first
🔒Concept of RevenueFinish "Short Run and Long Run Costs" first
🔒CalculateFinish "Concept of Revenue" first
🔒Solution of TCFinish "Calculate" first

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Market

A market is any arrangement, means or device which brings buyers and sellers into close contact in order to trade. It may be a fixed place, (e.g Oshodi…

1Definition of Market1 min · 4 questions→
🔒Types of MarketsFinish "Definition of Market" first
🔒Types of Markets (continued)Finish "Types of Markets" first
🔒Imperfect MarketFinish "Types of Markets (continued)" first
🔒Price DiscriminationFinish "Imperfect Market" first

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Business Organisations

Business organisations are enterprises established by individuals, group of individuals or a government for the purpose of providing goods and services to…

1Business Organisations/Enterprises1 min · 4 questions→
🔒Types of Business EnterprisesFinish "Business Organisations/Enterprises" first
🔒Types of Business Enterprises (continued)Finish "Types of Business Enterprises" first
🔒Types of Business Enterprises (continued)Finish "Types of Business Enterprises (continued)" first
🔒Advantages & Disadvantages of Sole ProprietorshipFinish "Types of Business Enterprises (continued)" first
🔒Advantages & Disadvantages of PartnershipFinish "Advantages & Disadvantages of Sole Proprietorship" first
🔒Differences Between Private & Public Limited Liability CompanyFinish "Advantages & Disadvantages of Partnership" first
🔒Differences Between Private & Public Limited Liability Company (continued)Finish "Differences Between Private & Public Limited Liability Company" first
🔒Advantages & Disadvantages of Co-Operative SocietyFinish "Differences Between Private & Public Limited Liability Company (continued)" first
🔒Advantages & Disadvantages of Public EnterpriseFinish "Advantages & Disadvantages of Co-Operative Society" first
🔒Sources of Finance/Capital of Business EnterprisesFinish "Advantages & Disadvantages of Public Enterprise" first
🔒IndigenizationFinish "Sources of Finance/Capital of Business Enterprises" first
🔒NationalizationFinish "Indigenization" first
🔒Privatization and CommercializationFinish "Nationalization" first
🔒Privatization and Commercialization (continued)Finish "Privatization and Commercialization" first

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Distributive Trade

Channel of distribution alternatively known as distributive trade or chain of distribution refers to the pathway through which goods and services flow from…

1Introduction1 min · 4 questions→
🔒Different Channels of DistributionFinish "Introduction" first
🔒Different Channels of Distribution (continued)Finish "Different Channels of Distribution" first
🔒Different Channels of Distribution (continued)Finish "Different Channels of Distribution (continued)" first
🔒Wholesalers & their FunctionsFinish "Different Channels of Distribution (continued)" first
🔒Retailers & their FunctionsFinish "Wholesalers & their Functions" first
🔒Merits & Demerits of MiddlemenFinish "Retailers & their Functions" first
🔒Problems Encountered in Distribution & SolutionsFinish "Merits & Demerits of Middlemen" first

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Population

Population refers to the total number of people occupying a definite geographical territory during a period of time. It is the total number of people living…

1Meaning & Determinants of Population1 min · 4 questions→
🔒Religion & Modern MedicineFinish "Meaning & Determinants of Population" first
🔒Birth RateFinish "Religion & Modern Medicine" first
🔒Death RateFinish "Birth Rate" first
🔒MigrationFinish "Death Rate" first
🔒Factors Influencing MigrationFinish "Migration" first
🔒Net MigrationFinish "Factors Influencing Migration" first
🔒Rural-Urban MigrationFinish "Net Migration" first
🔒Minimization of Rural-Urban MigrationFinish "Rural-Urban Migration" first
🔒Population Size & GrowthFinish "Minimization of Rural-Urban Migration" first
🔒Over-PopulationFinish "Population Size & Growth" first
🔒Disadvantages of Over-PopulationFinish "Over-Population" first
🔒Control of Over-PopulationFinish "Disadvantages of Over-Population" first
🔒Under PopulationFinish "Control of Over-Population" first
🔒Disadvantages of Under-PopulationFinish "Under Population" first
🔒Optimum PopulationFinish "Disadvantages of Under-Population" first
🔒Advantages/Positive Effect of Optimum PopulationFinish "Optimum Population" first
🔒Benefits of a Large PopulationFinish "Advantages/Positive Effect of Optimum Population" first
🔒Effects of Rapid Population Growth on Economic DevelopmentFinish "Benefits of a Large Population" first
🔒Control of Rapid Population GrowthFinish "Effects of Rapid Population Growth on Economic Development" first
🔒Natural & Population Growth RateFinish "Control of Rapid Population Growth" first
🔒Population CensusFinish "Natural & Population Growth Rate" first
🔒Population DistributionFinish "Population Census" first
🔒Dependency RatioFinish "Population Distribution" first
🔒Malthusian Population TheoryFinish "Dependency Ratio" first
🔒Appraisal of the Malthusian TheoryFinish "Malthusian Population Theory" first
🔒Relevance of Malthusian Theory to West African CountriesFinish "Appraisal of the Malthusian Theory" first
🔒Demographic Transition TheoryFinish "Relevance of Malthusian Theory to West African Countries" first
🔒Stages of the Demographic Transition TheoryFinish "Demographic Transition Theory" first
🔒Stages of the Demographic Transition Theory (continued)Finish "Stages of the Demographic Transition Theory" first
🔒Solved ProblemFinish "Stages of the Demographic Transition Theory (continued)" first
🔒Solved Problem (continued)Finish "Solved Problem" first
🔒SolutionFinish "Solved Problem (continued)" first

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Labour Market

The labour market is the market where prospective employees meet to negotiate the terms of their employment.

1The Labour Market & Supply of Labour1 min · 4 questions→
🔒Demand for LabourFinish "The Labour Market & Supply of Labour" first
🔒Efficiency of LabourFinish "Demand for Labour" first
🔒Mobility of LabourFinish "Efficiency of Labour" first
🔒UnemploymentFinish "Mobility of Labour" first
🔒Trade/Labour UnionFinish "Unemployment" first
🔒Wage DeterminationFinish "Trade/Labour Union" first
🔒Employers' AssociationFinish "Wage Determination" first

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Agriculture

Agriculture is planting of crops and rearing of farm animals for man use. The word "man use" is a very broad concept because agricultural outputs can be…

1Meaning of Agriculture1 min · 4 questions→
🔒Differences Between Subsistence & Commercial AgricultureFinish "Meaning of Agriculture" first
🔒Branches of AgricultureFinish "Differences Between Subsistence & Commercial Agriculture" first
🔒Problems of Agriculture in West AfricaFinish "Branches of Agriculture" first
🔒Agricultural Policies in NigeriaFinish "Problems of Agriculture in West Africa" first
🔒Farm Settlement Scheme (FSS)Finish "Agricultural Policies in Nigeria" first
🔒Green Revolution Programme (GRP)Finish "Farm Settlement Scheme (FSS)" first
🔒National Agricultural Land Development Authority (NALDA)Finish "Green Revolution Programme (GRP)" first
🔒National Economic Empowerment and Development Strategy (NEEDS)Finish "National Agricultural Land Development Authority (NALDA)" first
🔒Better Life Programme (BLP)Finish "National Economic Empowerment and Development Strategy (NEEDS)" first
🔒Operation Feed the Nation (OFN)Finish "Better Life Programme (BLP)" first
🔒National Accelerated Food Production Programme (NAFPP)Finish "Operation Feed the Nation (OFN)" first
🔒Agricultural Development Projects (ADP)Finish "National Accelerated Food Production Programme (NAFPP)" first
🔒River Basin-Development Authorities (RBDAs) (1976)Finish "Agricultural Development Projects (ADP)" first
🔒Directorate of Food, Road and Rural Infrastructure (DFRRI)Finish "River Basin-Development Authorities (RBDAs) (1976)" first
🔒Root & Tuber Expansion Programme (RTEP)Finish "Directorate of Food, Road and Rural Infrastructure (DFRRI)" first
🔒National, Special Programme on Food Security (NSPFS)Finish "Root & Tuber Expansion Programme (RTEP)" first
🔒National Fadama Development Project (NFDP)Finish "National, Special Programme on Food Security (NSPFS)" first
🔒National Fadama Development Project (NFDP) (continued)Finish "National Fadama Development Project (NFDP)" first
🔒Agricultural Transformation Agenda (ATA)Finish "National Fadama Development Project (NFDP) (continued)" first

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Industrialization

Firm: A firm is an entity that embarks on the creation of utility. It then means that it could be one that transforms raw materials into finished goods and…

1Terminologies2 min · 4 questions→
🔒Location of IndustryFinish "Terminologies" first
🔒Localization of IndustryFinish "Location of Industry" first
🔒IndustrializationFinish "Localization of Industry" first
🔒Small and medium-sized enterprises (SMEs)Finish "Industrialization" first
🔒Problems of IndustrializationFinish "Small and medium-sized enterprises (SMEs)" first
🔒Problems of Industrialization (continued)Finish "Problems of Industrialization" first

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National Income

• Gross Domestic Product (GDP): This is the monetary value of all goods and services produced in a country within a given year, including those of indigenes…

1Concepts of National Income1 min · 4 questions→
🔒Concepts of National Income (continued)Finish "Concepts of National Income" first
🔒Measurement of National IncomeFinish "Concepts of National Income (continued)" first
🔒Uses of National Income EstimatesFinish "Measurement of National Income" first
🔒The Circular Flow of Income(three-sector model)Finish "Uses of National Income Estimates" first
🔒The Multiplier ConceptFinish "The Circular Flow of Income(three-sector model)" first
🔒The Multiplier Concept (continued)Finish "The Multiplier Concept" first
🔒The Equilibrium Level of IncomeFinish "The Multiplier Concept (continued)" first

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Money

Money is defined as anything that is generally accepted as a medium of exchange and in the settlement of debts. It is a means of payment, and can also be…

1Meaning of Money1 min · 4 questions→
🔒The Barter SystemFinish "Meaning of Money" first
🔒Quality of MoneyFinish "The Barter System" first
🔒Functions of MoneyFinish "Quality of Money" first
🔒Demand & Supply of MoneyFinish "Functions of Money" first
🔒Types of MoneyFinish "Demand & Supply of Money" first
🔒Monetary PolicyFinish "Types of Money" first
🔒Meaning of InflationFinish "Monetary Policy" first
🔒Quantity Theory of MoneyFinish "Meaning of Inflation" first
🔒Types of InflationFinish "Quantity Theory of Money" first
🔒Effects of InflationFinish "Types of Inflation" first
🔒Inflationary & Deflationary GapFinish "Effects of Inflation" first
🔒How to Control InflationFinish "Inflationary & Deflationary Gap" first

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Financial Institutions

Financial institutions are organizations that help to mobilize resources from the surplus sector to the deficit sector of the economy. They are…

1Introduction1 min · 4 questions→
🔒Categories of Financial InstitutionsFinish "Introduction" first
🔒Central BankFinish "Categories of Financial Institutions" first
🔒Central Bank (continued)Finish "Central Bank" first
🔒Commercial BankFinish "Central Bank (continued)" first
🔒Money Creation IllustrationFinish "Commercial Bank" first
🔒Types of Account Offered by Commercial BanksFinish "Money Creation Illustration" first
🔒Parties to a ChequeFinish "Types of Account Offered by Commercial Banks" first
🔒Types of ChequeFinish "Parties to a Cheque" first
🔒How Central Bank Controls the Activities of other BanksFinish "Types of Cheque" first
🔒The Money MarketFinish "How Central Bank Controls the Activities of other Banks" first
🔒Monetary PolicyFinish "The Money Market" first
🔒The Capital MarketFinish "Monetary Policy" first
🔒Regulatory Agencies in NigeriaFinish "The Capital Market" first
🔒Regulatory Agencies in Nigeria (continued)Finish "Regulatory Agencies in Nigeria" first
🔒Nigeria Deposit Insurance CorporationFinish "Regulatory Agencies in Nigeria (continued)" first
🔒Nigeria Deposit Insurance Corporation (continued)Finish "Nigeria Deposit Insurance Corporation" first
🔒Mandates and PowersFinish "Nigeria Deposit Insurance Corporation (continued)" first
🔒National Pension CommissionFinish "Mandates and Powers" first
🔒National Pension Commission (continued)Finish "National Pension Commission" first
🔒Securities & Exchange CommissionFinish "National Pension Commission (continued)" first

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Public Finance

Public finance is a branch of economics that deals with how government generates its revenue and how it spends it in order to achieve its predetermined…

1Meaning & Objectives of Public Finance1 min · 4 questions→
🔒Meaning of Fiscal PolicyFinish "Meaning & Objectives of Public Finance" first
🔒Objectives of Fiscal PolicyFinish "Meaning of Fiscal Policy" first
🔒Government RevenueFinish "Objectives of Fiscal Policy" first
🔒Government ExpenditureFinish "Government Revenue" first
🔒Government Expenditure (continued)Finish "Government Expenditure" first
🔒Effects of Public ExpenditureFinish "Government Expenditure (continued)" first
🔒Government Influence on Economy using Fiscal PolicyFinish "Effects of Public Expenditure" first
🔒Characteristics & Cannons of TaxFinish "Government Influence on Economy using Fiscal Policy" first
🔒Types of TaxesFinish "Characteristics & Cannons of Tax" first
🔒Incidence of TaxationFinish "Types of Taxes" first
🔒Differences Between Direct & Indirect TaxFinish "Incidence of Taxation" first
🔒Numerical IllustrationFinish "Differences Between Direct & Indirect Tax" first
🔒Rates of TaxationFinish "Numerical Illustration" first
🔒Meaning & Types of BudgetFinish "Rates of Taxation" first
🔒National DebtFinish "Meaning & Types of Budget" first

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Economic Growth, Development and Planning

Economic development and planning involve policies made by the government to ensure fast economic development across all the sectors of the economy.

1Introduction1 min · 4 questions→
🔒Types of Economic PlanningFinish "Introduction" first
🔒Reasons for Economic PlanningFinish "Types of Economic Planning" first
🔒Problems of Economic PlanningFinish "Reasons for Economic Planning" first
🔒Meaning of Economic GrowthFinish "Problems of Economic Planning" first
🔒Causes of Economic GrowthFinish "Meaning of Economic Growth" first
🔒Meaning of Economic DevelopmentFinish "Causes of Economic Growth" first

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International Trade

Ecowas is a sub-region organization formed by fifteen West African countries in 1975. Lagos was originally its headquarters before it was moved to Abuja. It…

1Economic Community of West African States (ECOWAS)1 min · 4 questions→
🔒United Nation Conference on Trade & Development (UNCTAD)Finish "Economic Community of West African States (ECOWAS)" first
🔒International Monetary Fund (IMF)Finish "United Nation Conference on Trade & Development (UNCTAD)" first
🔒Economic Commission for Africa (ECA)Finish "International Monetary Fund (IMF)" first
🔒General Agreement on Trade & Tariffs (GATT)Finish "Economic Commission for Africa (ECA)" first
🔒Africa Development Bank (ADB)Finish "General Agreement on Trade & Tariffs (GATT)" first
🔒Organization of Petroleum Exporting Countries (OPEC)Finish "Africa Development Bank (ADB)" first
🔒International Bank for Reconstruction & Development (IBRD)Finish "Organization of Petroleum Exporting Countries (OPEC)" first

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Major Natural Resources

Natural resources are materials and components (something that can be used) that can be found within the environment.

1Introduction1 min · 4 questions→
🔒Classification of Natural ResourcesFinish "Introduction" first
🔒Classification of Natural Resources (continued)Finish "Classification of Natural Resources" first
🔒The Ministry of Mines & Steel DevelopmentFinish "Classification of Natural Resources (continued)" first
🔒History of the Oil IndustryFinish "The Ministry of Mines & Steel Development" first
🔒Nigerian National Petroleum CorporationFinish "History of the Oil Industry" first
🔒Major Events in the Petroleum IndustryFinish "Nigerian National Petroleum Corporation" first
🔒Major Events in the Petroleum Industry (continued)Finish "Major Events in the Petroleum Industry" first
🔒Activities in the Oil IndustryFinish "Major Events in the Petroleum Industry (continued)" first
🔒Niger Delta Development CommissionFinish "Activities in the Oil Industry" first
🔒Department of Petroleum ResourcesFinish "Niger Delta Development Commission" first
🔒The Petroleum Products Pricing Regulatory AgencyFinish "Department of Petroleum Resources" first

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