Structure of the Nigerian Economy
This lesson covers the nature and structure of the Nigerian economy. It explains the primary, secondary, and tertiary sectors and their contributions to the economy. The lesson also discusses the economic activities in different geopolitical zones of Nigeria.
- 03:15 “secondary and the tertiary sectors and their contribution to the Nigerian economy. The primary sector consists of both the agricultural and extractive industries. That is, all those companies and businesses which go into...”
- 07:16 “Despite all these changes, many people still work in the farming sub sector and wealth is not well distributed between the very wealthy and the very poor. Let us briefly observe this transformation that has taken place i...”
- 00:00 “Good day students, my name is Mr. Balogun Abdullah, your economics teacher. The topic for today is, the nature of the Nigerian economy. At the end of this lesson, it should be able to do the following. 1. Explain the nat...”
Commercial Arithmetic: Profit and Loss
This lesson covers the concepts of profit and loss in commercial arithmetic. Students will learn to identify cost price and selling price, and how to calculate profit or loss these values. The lesson also includes calculating profit or loss in percentage.
- 00:00 “Hello, my name is Oyase. Sunday. I will be taking you mathematics JSS2 class. We're looking at an interesting topic for today. The topic is transaction in the home and offices. Transaction in the home and offices, we're...”
- 21:15 “It will now be what my principal, initial amount invested. 60,000. Plus, what's my interest for the community period? 24,000. Where you add them up together, I will have it as what? 84,000. So, after five years, 60,000 r...”
- 14:11 “7500, is the cost price for each of the items at a loss of 20%. It gives you an idea and it's okay, the loss percentage is given. If it was in a profit, you remember it would be an addition. If you looking for the sellin...”
Basic Economic Problems
This lesson covers the basic economic problems faced by society, including scarcity and resource allocation. It explains different economic systems such as capitalism, socialism, and mixed economy, and how they address these problems. The role of market forces in regulating the economy is also discu
- 00:00 “Hello, welcome to this lesson. My name is Cornelius and I will be taking you economics SS1. And the topic for today is basic economic problems of society. So in this lesson, we are going to be looking at what an economic...”
- 18:19 “the consumers or the people in the country. So, the economy is very rigid. This plant you can't go out of what the central government has decided. The next point is planning, expenditure can be very high and wasteful. So...”
- 24:46 “efficient use of resources or efficiency of resource use. So, no matter the system that we're having, there's going to be production going on and production drives the economy. Production is like the foundation of the ec...”
Cost of Production
This lesson covers the concept of cost in economics, focusing on the cost of production. It explains different types of costs, such as fixed and variable costs, and discusses the factors of production that contribute to overall costs.
- 08:08 “When I forego the pen, it means that I have sacrificed the pen, in order to enable me to buy the world, the book. That pen I have forego is what economists refer to as well as opportunity calls, sacrificing the particula...”
- 25:58 “okay, over changing quantity, anything marginal, the first line is always dash, you can see, here, for the first unit is dash, so you start from the second one, very easy, even without capital it or you can do this, just...”
- 04:08 “will not be paid for the usage of such land. Of course, when I like it or not, rents must be paid. On label, you can also employ a label for working for you free of charge, you need to pay them either with this or what,...”
ECOWAS Overview
This lesson covers the meaning of the acronym ECOWAS, which stands for Economic Community of West African States. It identifies the member countries, discusses the purpose of ECOWAS, and outlines its advantages and disadvantages, along with potential solutions to its problems.
- 13:34 “Well, let's look at the disadvantages of Ecoa's. Whatever has, whatever is good. Sometimes it will also have this other aspect. I bear disadvantages, I bear bad things about it. It creates financial burden on the richer,...”
- 12:45 “There's also an introduction of Ecoa's insurance. You could see a lot of benefits. Insurance scheme for members who we should travel out of their countries. There is also increase in cooperation among member countries. T...”
- 09:37 “that our president has to say because of his audiences, let's close the border. He forgot that one of the reason why Acroas was established so that they can be free trade. He said, because arms are brought in a lot of th...”
Factors of Production
The lesson covers the concept of production and its types. It explains the factors of production, division of labor, and specialization. The advantages and disadvantages of division of labor and large scale production are also discussed.
- 02:25 “to consume it, your biscuits is the consumer goods, your notebook is the consumer goods, your uniform, your sandals, those are consumer goods. The moment you pick them up you can use them. Capital goods are those goods t...”
- 04:04 “goods. That is the secondary production. So the extractive industries provide the raw materials with which secondary production is carried out. Now we said the primary production industries are referred to as the extract...”
- 03:16 “this level of production that's primary production are commonly referred to as the extractive industries because their work is extraction. So they are getting the minerals out of the ground. They are getting the food out...”