Ojonugwa Julius Akubo's Blog

The basic,reason why some developing countries are still in the lower region of development today is not necessarily because they lack resources but that they fail to utilise and maximise them. Amongst such resources available  to some developing countries is agriculture. Agriculture though limited to some developing countries is the basis upon which a lot of industries can evolve. First of all it starts with the Agro-alied industries whose major raw materials are from Agriculture. And as we know the Agro-alied industries will require machines which will necessitated the need for mechanical industries. Its also obvious that social amenities like  Electricity,transport mediums(good roads, airports,railways and well dredged water bodies), Health amongst others will find their way into the host society either through the public sector or the private sector. The rising industries generate revenue for the government due to taxation and the companies exportation process...

The concept of economic development has being the major pivot of every nation and at such they all use possible instruments at their disposal to either boost their economy or stabilize their economic position. Unfortunately many nations focus on developing the other components that facilitates economic development without putting adequate attention on the major manager of the economy which is labour. Is it possible for a car to move without a driver? Labour  development   is a crucial necessity that every developed or  developing nation need to either remain developed or attain their desired level of development respectively. As a matter of fact every other factor of production which is the mother of development is either created or managed by labour. Is it capital,land or entrepreneur. All these are subject to labour control for effective utilization and maximization. Labour is entrepreneur,labour produces capital, labour uses land for production so it...

Every organization that must attain Maximum productivity and effective specialization must be willing to practice the theory and concept of labour division. Division of labour is the sharing of responsibilities between people of different areas of specializations. Considering the inability of humans to be totally self sufficient there is need for labour divisions which is a product of  specialization. Take for instance,the basic needs of man are food,shelter and clothing. If a collective group of individuals where to provide these basics for themselves individually then there wouldn't only be low output but inequalities which may lead to envy and eventually cause anarchy in the society. This is true because an individual may be a better farmer at the same time a weak tent maker so he would be lacking in terms of structures whereas he has plenty of food. Since he can not ask any other person for support in terms of tent making envy is bound to arise against the better  te...

Treasure network: Satisfaction is created ,Not Attained : So many people find it difficult to live happily in our world of today all because they illusionally imagine the existence of a point where...

I nflation is a continuous or sustained increase in the general price level or cost of living of any economy. Wealth on the other hand could be defined as a state of abundance . From the above definitions we wouldn't be wrong to deduce that the wealth level of any rational consumer in an area has some direct relationship with the inflation rate in that area. This is proposed based on the demand law that states; higher demand as a result of lower price. Conside ring this,its obvious that policy makers must draft out policies that will constantly reduce inflation and relatively grow up employment opportunities else the population of the wealthy in the case country will be definitely growing at a decreasing rate. Inflation is beneficial to a few set in the society with a larger population of the society suffering the negative effect of the inflation. Even wealth distribution is  positively related to lower inflations at such a government that must improve the human centered perspecti...

Market in the first place is any arrangement that provides a medium for exchange or trade between buyers and seller.Market structure in the same temple is simply the number composition of either of the diffrnt market agents(buyers and sellers) in the market and their type of operations. They include;  * Oligopoly: here there are few firms in the market dominating the market share majority together.  *Oligopsony:here there are many producers with relatively few consumers compared to the number of producers. *Duopoly: is when only two firms exist in the market and they both control the market share together.  *Monopoly: here there is only one producer of a particular product which gives the producer opportunity to influence price at will.  *Monopsony:its the opposite of monopoly,its when there is only one buyer or consumer of a particular product with many producers in the market.  *Monopolistic competition: this is synonymous with competitive market.there are ma...

The Keynesian concept defines investment as a process of adding to existing capital stocks. In other words investment is a process of acquiring assets be it fixed or capital. Investment process is an attitude that should be on the minds of any success oriented personality. But its so unfortunate that so many people lack the insight as to the benefits of investment culture. This is why people complain of financial problems even after years of gainful employment. Investing is a process that requires time and at such you must you must be ready to endure the time it will take for you to start reaping the fruits. It could be inform of buying shares (fixed investment) or inform of buying goods designed to be used in making other goods (Inventories) . It could also be inform of purchasing or building infrastructures and other form of properties (Residential investments). If you must make it financially and economically you must be ready to invest.