Tag: examples and more
Elasticity: Meaning, types, examples and more
The theory of demand and supply influences economic decisions. This article provides an in-depth explanation of elasticity, including its meaning, types, and applications. The work explores the key factors that affect elasticity and how it can be calculated, as well as provide real-world examples to illustrate its importance in decision-making. What is Elasticity? Elasticity is …
Free Trade Zone: meaning, types, examples and more
What are Free Trade Zones (FTZs) Free trade zones (FTZs) are designated areas within a country where goods can be imported, manufactured, and re-exported without being subjected to the country’s customs laws. They are set up to promote economic growth by encouraging foreign investment and facilitating trade. FTZs can offer various benefits such as tax …
Mobile wallet: Meaning, examples and more
Mobile wallets have become a popular alternative to traditional forms of payment in many countries around the world, and Nigeria is no exception. These digital payment platforms offer convenience, increased security, and the ability to make banking transactions seamless without the need for a bank account. In this article, we will take a closer look …
Fast Moving Consumer Goods (FMCG): meaning, examples and more
What are Fast Moving Consumer Goods (FMCG)? Fast Moving Consumer Goods (FMCG) are products that are quickly consumed and have a short shelf life. They are also known as consumer packaged goods and are purchased frequently by consumers. FMCG includes products such as food, beverages, toiletries, and other household items. These products are an essential …
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Mixed economy: meaning, features, examples and more
What is a mixed economy? A mixed economy is an economic system that incorporates features of both capitalism and socialism. In a mixed economy, the government intervenes in certain sectors of the economy, while leaving others to operate under the free market. This article aims to explain the meaning of a mixed economy and its …
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