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.
- 03:57 “In this case, I have a competitive edge over those that sell short dresses. So, I can decide to sell my goods in Abuja, in order to have more productivity and to increase profitability. What is a foreign trade? When you...”
- 04:43 “It is the buying and selling of goods or exchange of services between one country to another. Exchange of goods. So a trader that sells, for example, myths is residing in legal's Nigeria here. He cannot carry myths to ab...”
- 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,...”
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.
- 21:07 “and make their profit and its widening markets. Exchange of culture, social cultural interaction, among the nations of the world, lead to exchange of cultural efforts and across fertilization. Cultures will be exchanged....”
- 21:54 “And it will also not just be known worldwide, it will increase the value of such currencies. Promotion of tourism. Interaction, remember we are still in merits of interdependence of nations. Promotion of tourism. Interac...”
- 04:38 “also constituted the cornerstone of their foreign policy. So the Ministry of Festana Affairs was directly responsible for foreign policy formulation and implementation. Ministry of Festana Affairs, they were directly res...”