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Farm Settlement: Definition, Concepts, Merits & Demerits
Farm settlement is another type of farming which was practised by some governments in many countries. The farm settlement has a dual objective of increasing food production and providing gainful employment for the settlers.
Problems of Agriculture and Possible Solutions
Agriculture may be defined as the production of animals, fishes, crops and forest resources for the consumption and other benefits of man. Agriculture is the dominant occupatnon, employing about 50-60 per cent of the total population of West Africa.
Although subsistence agriculture is practised in this part of the world, it will not be an over-statement to say that it is the live-wire of the economies of West African countries.
Unemployment: Definition, Types, Causes, Effects & Concepts
Unemployment is a state of joblessness. An unemployed person is one who is available for work, is looking for work, but cannot find it. Unemployment means lack of employment. It is a mismatch in the labor market, where the supply of labor (by workers) is greater than the demand for labor (by companies).
Localization of Industry: Definition, Causes, Merits & Demerits
The localization of industry refers to the concentration of many firms of an industry (i.e. firms producing similar goods or services) in an area e.g. concentration of many leather craft industries in London.
Problems and Solutions of Industrialization
Effects and Positive Solutions of Industrialization
Meaning of Industrialisation
‘lndustrialization’ is a deliberate policy by governments to create many industries in a country. The process of...
Industrialization: Definition, Types, Stages & Features
‘lndustrialization’ is a deliberate policy by governments to create many industries in a country. The process of industrialization involves the production, increasing use of machinery and power tools, as well as the use of improved technology in production, all of which lead to a higher level of output of industrial goods.
Indigenization Policy: Definition, Aims, Merits & Demerits
Indigenization Policy refers to a deliberate effort/policy of the government to increase the participation of the nationals in the ownership and management of commercial and industrial activities in the country.
Location of Industry: Definition, Effect & Factors
The location of industry is the siting of an industry in a particular place due to the presence of certain factors which favour its establishment.
Trade Disputes: Definition, Types, Functions & Settlement
A trade dispute refers to any discontentment or dissatisfaction arising out of anything connected with the organization that any employee thinks or believes or feels is unfair, unjust or unequitable.
Public Enterprises: Definition, Features, Merits & Demerits
Public enterprises are business organizations that came into existence through appropriate enabling Acts of Parliament, or Decrees or Edicts in a particular country or state. They may be commercially-oriented or public service-oriented.
Co-operative Society: Definition, Types, Features, Pros & Cons
A co-operative society is an organization or body of people of common interest who come together to protect their interest and utilize this to better the lot of its members by engaging in various economically viable ventures.
What is Population Distribution?
Population Distribution Definition
Population distribution refers to the structure of the population. The structure includes geographical age, sex and occupational distribution.
Factors Affecting Geographical Distribution
By geographical...
Labour Mobility: Definition, Merits & Economic Factors
What is Labour Mobility?
Labour mobility or mobility of labour means the ease with which labour can move both geographically and occupationally.
That is, labor mobility...
The History and Evolution of Banking in Nigeria
Nigeria Banking History
All started in the nineteenth century when Elder Dempster Company bought in a foreign owned bank into Lagos.
Standard Bank Nigeria Limited...
Population Census: Definition, Reasons & Problems
Population census is the counting of statistical data on an entire specific population of a group of people. In this way, its characteristics can be precisely known.
Deflation: Definition, Causes, Effect & Control of Deflation
Deflation refers to a persistent or continuous fall in the general price level. The value of money increases during a deflationary period.
Imperfect Market: Definition, Features, Types, Merits & Demerits
An imperfect market may be defined as any market structure where either the buyers or the sellers can influence the prices of goods and services because they are few in number. An imperfect market deals in different products.
Inflation in Nigeria: Causes, Control & Solutions
Inflation is a worldwide phenomenon but the rate varies from country to country.
Nigeria has been experiencing a high rate of inflation estimated to be well over 45%. Despite the various measures adopted to control inflation it has defied solutions.
Stock Exchange Market: Definition, Functions & Examples
The stock exchange market is a market which deals with the buying and selling of long term financial assets (securities) such as stocks and shares.
Mortgage Banks: Definition, Functions & Examples
A mortgage bank is specifically set up for the purpose of providing long-term loans for building houses. E.g. Federal Mortgage Bank or Imani Mortgage Finance Ltd.