Posted inEconomics
The General Agreement on Tariffs and Trade (GATT) | Aims & Objectives
The General Agreement on Tariffs and Trade (GATT) agreement was signed in Geneva, Switzerland in 1947 with the following basic principles:
Posted inEconomics
Methods of Economic Analysis : Positive & Normative Reasoning
Economic analysis is both theoretical and empirical. Both theoretical and empirical analyses use three types of languages which are verbal, statistical and mathematical.
Posted inEconomics
Measures of Dispersion: Definition, Types, Pros & Cons
Measures of dispersion or spread give us some idea of how the values of a distribution cluster around the average and to what extent the observations differ from the mean. The three main measures of dispersion of a distribution are the range, the variance and the standard deviation.
Posted inEconomics
Centrally Planned Economy: Definition & Features
A centrally planned economy is an economic system in which economic decisions are made by the government of a country through a central economic planning bureau. It is also called a command economy and is associated with a socialist or communist economic system.
Solid Minerals: Definition, Problems & Contribution in Nigeria
Solid minerals are naturally occuring substances derived from the earth which are of great value to man. They include metalic ores, fuel minerals (such as coal. uranium, signet, tar sands), industrial minerals and rocks (such as limestones, marble, etc.) and gemstones/ornamental stones.