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.
- 06:28 “you have power in international trade. These are the reasons why this body came up. It's making progress, a lot of progress, this body has made. And then some airing nations too are caught water. But as it starts, I want...”
- 15:52 “it's a good example where many people, from West Africa countries, go to go and remain there. They want to survive. Yes, the road has been open. So it's a setback. Some of them are into stealing. Some of them are into wa...”
- 19:02 “So language barrier. And what about attachment to colonial masters? Nigeria is colonized by the British. Compared to all the French countries, the Dakota, by the France, by the French. So they say about attachment. Thoug...”
Interdependence of Nations
The lesson covers the concept of interdependence among nations and the importance of international interactions. It explains Nigeria's economic, political, and cultural interactions with other countries, as well as the advantages and disadvantages of these interactions.
- 15:35 “differences in level of industrialization, quality and quantity of labor force, they are not the same, differences in the cost of production, they need to expand markets. Now, let us see another reason for interaction or...”
- 14:02 “Non-nation is self-sufficient. No matter how industrialized a nation is, there must be something that a nation or country can need from another country. No matter how developed a country is, there is something that a nat...”
- 01:34 “no matter how developed a country is, there is no country that can be an island of its own. There is one thing or the other that a country can demand or need from another country. That is just what it means. The no count...”
Meaning and Types of Trade
The lesson explains the concept of trade as the buying and selling of goods. It describes the types of trade, including own trade and foreign trade, and outlines the services that facilitate trade. The role of Customs and Excise in foreign trade is also discussed.
- 07:06 “globalization. In business globalization is where countries can exchange treats, can exchange like we understood in our last class transaction liquidity, even foreign exchange. For example, in the Nigeria stock exchange,...”
- 05:29 “And also, school shoes. There are some very good letters in Italy. So an Italian man can decide to produce good shoes, good school shoes. We used to remember this company called Batta. They bring shoes from abroad to Nig...”
- 19:32 “You have to put that into the construction boat. Transport helps facilitate trade in a very, very effective and efficient manner. So, everything. It helps each trade. Organizations normally organize holidays for parents...”