The International Bank for Reconstruction and Development (IBRD) otherwise known as the World Bank was established in 1944 with its headquarters in Washington DC.
The United Nations Economic Commission for Africa is the continental organ that is responsible for the coordination of the developmental activities and efforts of the African countries under the agencies of the United Nations.
European Bank for Reconstruction and Development (EBRD) The European Bank for Reconstruction and Development was established in 1991. Aims and Objectives of the European Bank for Reconstruction and Development (EBRD) To provide technical assistance and…
The European Economic Community (ECC) now referred to as the Enropean Union (EU) was established in 1958 under the Treaty of Rome of I957. It has a membership of twelve countries at present. The number is likely to grow as the years roll by.
OPEC was established in Baghdad, Iraq in September 1960. Like many other international organizations, OPEC was formed by a few founding members, namely, Iran, Iraq, Kuwait, Saudi Arabia and Venezeula.
In the 1960s, five more countries became members: Qatar (1961), Indonesia (1962), Libya (1962), Abu Dhabi (1967) and Algeria (1969). In 1974, the United Arab Emirates of which Abu Dhabi was the dominant member took Abu Dhabi’s place.
The General Agreement on Tariffs and Trade (GATT) agreement was signed in Geneva, Switzerland in 1947 with the following basic principles:
Economic analysis is both theoretical and empirical. Both theoretical and empirical analyses use three types of languages which are verbal, statistical and mathematical.
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.
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 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.