Economic integration is an indispensable tool of economic development. Explain five (5) rationale for Nigeria's affinity with these celebrated international economic organizations.

Answers

Answer 1

Answer:

Five reasons why Nigeria joins international economic organizations:

Economic theory shows that international trade benefits all countries because it allows each country to specialize in producing what they do best, a quality that is known as comparative advantage.Economic historial evidence supports the theory and demonstrates that countries that integrate economically with others, grow and develop more than the countries that remain more closed.Economic integration is also a way to reduce conflict, because when countries have mutual economic interests, they are less likely to go to war with each other.International trade benefits consumers, by allowing them to access goods and services from abroad that may be cheaper than Nigerian ones.Economic integration also benefits businesses, by giving them access to new, integrated, and larger markets.


Related Questions

Using weighted average, the cost of goods sold for the sale of 23 units on July 31 is ____ and the inventory balance at July 31 is

Answers

Answer:

the correct answer is.

Explanation:

hope this helps u!!!!!

108.90 is the right ones bc

which is not the following characteristics is not associated with a general ledger?

Answers

Explanation:

A general ledger is one several record books bookkeepers use to record the relevant account transactions of their business.

It used primarily to record transactions related to assets, liabilities, business capital, revenues, and expenses. First, after transactions are recorded in the journals entry they are then posted in general ledger accounts.

Note that the general ledger is a two-columned T-shaped table, in which debit entries are placed on the left side and credit entries on the right. Which may include the transaction description, and the date of the transaction.

Average consumers spend 7% of their income on utilities. The scotts' annual income is
$42,000. Assuming that utility payments are the same each month, how much of the Scotts'
monthly budget should cover the cost of utility bills?
O $700
O $245
O $2860
O $2940​

Answers

Answer: $245

Explanation: $42,000 - 7%= $2,940. $2,940 /12 months= $245

The answer to this question is 245

Mason pays $251 monthly for auto insurance. He had an accident involving another car. His
insurance company paid $2500 to settle the claim. At the end of the year, did the insurance
company make a profit from Mason?

O No, the amount of the claim was more than a year's worth of payments.

O Yes, the year's worth of payments is more than the amount of the claim.

O Yes, the year's worth of payments is less than the amount of the claim.

O No, the amount of the claim was less than a year's worth of payments.​

Answers

Answer: Yes, the years worth of payments is more than the actual claim

Explanation:

the claim was $2500 and he payed $3,012 a year for insurance

Yes the years worth of payments is more than

What percentage of business owners say their business plan was a major factor in their success?

Answers

Answer:

after 5 years was 50% after 10 years its 70%

Explanation:

Harvard did a study on the industry fail businesses and came up with these statistics

70%, I am one myself and have looked it up from many different sources
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