How to correct balance of payments deficit i. Borrowing from international financial/organizations or from friendly countries. ii. Embargo/ban on importation…
Instrument used by the Central Bank to control money supply includes i. The bank discount rate ii. Open market operation…
Money supply is the total stock of coins, bank notes and bank deposits available for use in a country at…
Types of cooperative societies: i. The consumers’ cooperative society: The consumer’ cooperatives are made up of consumers. They buy essential…
A cooperative society is a business organization composed of people who have pooled their resources so as to protect and…
i. Cheque: Cheque is the category of near money which are not widely acceptable as a means of payment. ii.…
Money is anything generally acceptable medium for making payment in a society.
The role of industrialization in economic development of Nigeria include: i. Provision of employment opportunities for Nigeria ii. Diversification of…
Industrialization is the process of increasing the volume of productive activities and development of technology so as to increase the…
i. Opportunity cost is the best alternative want sacrificed in order to satisfy another want due to scarcity of resources.…