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...”
- 08:38 “Won't it increase its competition? In this case, we do not have only one seller. We have many sellers. We have many producers and many manufacturers that offer us the opportunity to choose to have a proactive attitude. W...”
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.
- 20:19 “And the only reduction of hostilities, hostilities in the world are reduced to the barest minimum to interaction. And this will promote world peace. When hostilities are reduced, there will be no conflict. There will be...”
- 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....”
- 00:02 “Good day, everyone. My name is Mrs. Pat Okolo. I am your government teacher. And the topic we have today is interdependence of nation and globalization. Now, let's look at the lesson objectives. At the end of today's les...”
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.
- 05:42 “on foreign countries. For now we are about to have slaves. Why did I say we are slaves? If you look at this of recent, from pin to toothpick, to your ruler, to your pencil, to your cutting comb, and everything is coming...”
- 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...”
- 17:25 “So we have this political instability. Sometimes having all these countries, also a challenge. Even at this age where these countries are, we have the administration making the progress of Elcovas very, very slow. They s...”
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
- 06:28 “hastens economic development. So when there's a lot of economic activity going on, players can come into the market and exit, but the economy continues to grow because there's going to be continuous movement. There's goi...”
- 31:54 “want to produce the resources for the people, the government can decide that this section of the economy needs this intervention and so the government is going to invest resources into producing the goods or the service...”
- 08:02 “And they develop the technology, develop the resources. So it becomes very difficult for people to come into the market. Also, they could begin to buy out smaller their competition. They could begin to buy their acquired...”
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.
- 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,...”
- 00:00 “Good students, standing before you here is Mr. Kenny and how we're taking you economics on a very interesting topic which I call cost concepts, cost concepts, okay? This is a very interesting topic that you need to learn...”
- 03:16 “production. And what are the factors of production? We have words, you have land, you have labor, you have capital, and of course you have the word ends up in your, now the cost you include on land, the cost you include...”