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Problems and prospects of tree crop production in Nigeria?
What are the problem of tree crop production in Nigeria
Characteristics of production possibility curve?
It slopes downward towards right:this shows that we will have to reduce the production of one commodity to increase the production of the another commodity.
What are the major constraint to commodity trading in Nigeria?
inadequate supply bad weather poor storage inadequate knowledge of the working of the commodity exchange
The contributions of primary and tertiary production activities to the development of Nigeria?
production
Does the production possibilities curve slope downward?
Yes, production possibility curve slopes downwards to the right indicating that the economy has to forgo some quantity of one commodity to have more quantity of other commodity.
When an economy is operating under conditions of full employment why will the production of more of commodity A mean the production of less of commodity B?
It will occur because of the movement of workers from the production of one commodity to the other. Full employment means that there are no unemployed workers available. In this case, the hypothetical economy is a closed system. No new workers, materials, production facilities, money or markets can be introduced. Because it is operating under conditions of full employment, all the workers, raw materials, factories, money and customers are being fully utilized. Therefore, if we decide we need more Commodity A we have to steal workers, materials and production space from that allocated to Commodity B.
What is the Meaning of Structure of Nigeria Economy?
The Structure of Nigeria Economy means, how resources are woned and how Production, Distribution and Consumption are managed in Nigeria.
What is production possiblities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
What is production possibilities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
What is material production and what is its role in the life of society?
"What is material production and what is its role in the life of society?" material production is the use of human labour, skills,and productive forces to change the natural resources into commodity material production is the use of human labour, skills,and productive forces to change the natural resources into commodity
What is The exclusive control of the production of a certain good by a business is known as?
A monopoly of that commodity.
France is world leading for what commodity?
France is well known for its wine production.
