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What is the difference between mono product economy and import oriented economy?

Describe Nigeria's economy as Mono-product and import oriented economy


What are the Effect of mono economy?

A mono economy refers to an economy heavily dependent on a single industry or sector. The effects of a mono economy include vulnerability to fluctuations in that industry, lack of diversification leading to economic instability, and limited opportunities for growth and development in other sectors. Additionally, a mono economy can hinder innovation and resilience in the face of external shocks.


How do you say 'Nigeria is the heart of Africa' in Igbo language?

nigeria mono hun Africa


Does Nigeria have a market economy?

is nigeria a market economy, or a custom based economy, or directed.


What is a mono economy?

a mono-economy is a economy relying on one major export or natural resource to bring most of the currency into the country.


Is Nigeria economy good?

Yes it does Nigeria actually has the best economy in Africa


What is the impact of universal banking in Nigeria economy?

What is the impact of universal banking on nigeria economy


The importance of community service in the Nigeria economy?

what are the importance of community service to nigeria economy


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.


Which has the strongest economy in Africa?

Nigeria has the strongest economy in Africa. The only set back that Nigeria has is that it is yet to have strong economic/government policies in place to stablize the economy. But no doubt, Nigeria has the strongest economy.


What is mono cultural economy?

An economy that depends primarily on one product.


How does importation devalues the Nigeria's economy?

it devalues nigerias economy because 50% of goods in nigeria are imported