Comparative Advantage In Nigeria

I believe that the United States has opportunities that will help increase the national competitive advantage that it has over other countries in the world because the United States is finding ways to manufacture goods at a high rate to satisfy the needs of the consumer. I find that businesses such as Honda and Toyota have to compete at a high level in order to attract the services of the consumer who is looking to buy a new car that they feel they are wanting to have for a long while. They will usually innovate with new car models that will necessarily have new features that the predecessor before it didn't have and will be able to negotiate a deal with the consumer to buy it. I find that companies will use under-handed techiques to try and

Instead of focusing on diversifying, the leaders of the country focus on gaining power and standing in the government. “Nigeria’s most daunting challenge lies in overcoming the severe divisions among its competing religious and ethnic groups” . Moreover, once they gain it, their problems do not end, since they must look over their back, never knowing how long they will hold on to the little power they have. Meanwhile, the common person suffers, as he is neglected by his government and must survive on his own. “The standard of living declined even further than before and external debts increased.” This neglect of the common man bodes ill for the government, as it is the common man who votes in the polls. However, the vote does very little, since corruption is rampant in Nigeria.

African history is extremely important because it contributes to the overall understanding of world history. The historical interaction between Africa and America created a platform for national capitalization. Nigeria is one of the most populated countries in Africa and more specifically it consists of one of the highest amounts of ethnics groups. Nigeria consists of over three hundred different ethnic groups. Language, culture, and values are what differentiate ethnic groups from each other.

However, some believe, that a shift in the way we produce food may have some unintended consequences. They contend that poverty in nations such as Africa and Asia, is caused by the low productivity of the unindustrialized farm labor. The U.S. Agriculture Department projects, without reform, there will be over a thirty percent increase in the numbers of the ‘food insecure’ people in those nations over the next decade (Paarlberg 179).

In modern times trade between Americans and Asians in the market has increased. After WW2 the resource-lacking country of Japan had two options: find an alternative power source to oil, or trade. It became obvious in the late 20th century, which route they chose. “Made in Japan” used to be plastered over thousands of consumer products in America, and moving into the 21st century, this has shifted to “Made in China”; on almost every item an American buys, they can find the “Made in China” tag. Unfortunately, the Americans educational system has taught people from a young age to scorn such a tag, and they deride the Chinese that can produce cheap socks for them, before quickly placing the item in their carts. Conversely, if Americans were educated on the principles of free trade, they would understand the concept of comparative advantage, and be thankful for the efficient Chinese

Sub-Saharan Africa has been a laggard with regards to economic growth rates when juxtaposed with many emerging developing countries. Analysts believe this could be due to high import volumes along with population boom dogged by disproportionate income growth. Structural deficiencies have hampered domestic production from propelling as swiftly as upsurges in demand. Many of the North African countries face agro-climatic limitations to increased production so imports are believed to play a pivotal role in satiating consumption

In fact, he constantly connects the African case to the broad discussion on Development Studies. Therefore, his book is for everyone an impressive source of inspiration and a tool to understand the current economic and geopolitical situation in the region and in the world.

Kingsley Moghalu author of Emerging Africa: How the Global Economy's Last Frontier Can Prosper argues that the African economic can be transformed once there is a paradigm shift. which includes African countries creating complex products, the development of a stronger intuition, the use of propaganda and development of central banks. He believes that African countries can gain wealth and prosperity once these paradigm shifts are applied.

Trading is when someone has comparative advantage in one good wants to make an exchange with another one who has comparative advantage in other goods, to balance the demand and supply of a good in one's consumption. Assume the US has comparative advantage in oats and Carribean countries are the only sugar exporter to the US. Assume . Considering economic consequent, the impact of sugar quota is quite bad to the grocery market. For the US, the shortage in sugar and surplus in oats exist. People in the US will less likely to have enough sugar to use in cooking or beverage but excessive oats to consume. To balance the shortage, the government will be forced to limit the amount of sugar a person could buy. And US residents will suffer from low

Both Ghana and the Ivory Coast have been colonized in the 19th and 20th century, and both managed to gain their independence peacefully. After gaining their independence Ghana and the Ivory Coast were seen as economic and political models for African countries but facts and statistics from today will show that Ghana has emerged as one of Africa’s most stable democratic countries meanwhile the Ivory Coast is only starting to recover from its last civil war. How can two neighboring countries who have similar pasts at similar time frames become so different? What dependent and independent variable have changed the course these two countries were set out to take? We will answer these two questions and will pay close attention as to how and why these once similar countries became so different.

The increases in oil prices have caused the demand for Sports Utility Vehicles and light trucks to decline as consumers are now vying for more fuel efficient vehicles in an attempt to save costs on transportation. The flux in consumer preferences has proved to be positive for German, Japanese, and Korean manufacturers as they have seen an increase in the market shares in the industry. The American industry is still developing strategies to adapt his product line to meet the needs of consumers with the change in preferences.

Being the world 's largest economy, the United States is also largest exporter and importer of goods and services. American economic growth relies heavily on trade. According to a recent report on NAFTA, “Since 1992, nearly 20 million new jobs have been created in the U.S., in part due to the 1994 NAFTA agreement. Total trade between the NAFTA partners -- the U.S., Canada, and Mexico -- rose from $293 billion in 1993 to more than $475 billion in 1997, and has increased since. ” (Bowman, Free Trade). It is obvious evidence that international trade is beneficial to the US economy, at least in the 1990s.

During 2003-2007, Nigeria attempted to implement an Economic Empowerment Development Strategy (NEEDS). The purpose of NEEDS is to raise the country’s standard of living through a variety of reforms, including macroeconomic stability, deregulation,

Comparative advantage is a principle developed by David Ricardo in the early 19th century to explain the benefits of mutual trade (Carbaugh, 2008). Many underlying assumptions of comparative advantage depend on states of economic equilibrium and an absence of economy of scale. In reality, economies are dynamic and subject to innovation and interference; which has led to revised assumptions of return and competition (Krugman, 1987). These factors have created questions of free trade and governmental participation in an economy by the development of strategic trade policies. These new concepts do not replace the theory of comparative advantage; however, they further explain how trade can benefit a country's economy (Krugman, 1987).

Agricultural Economics of Nigeria: Paradoxes and Crossroads of Multimodal Nature Professor Eric C. Eboh Professor of Agricultural Economics University of Nigeria CONTENTS 1.0 ACKNOWLEDGEMENT 2 2.0 CONCEPTUAL APPROACH OF THIS INAUGURAL LECTURE 6 REFLECTIONS ON THE STRATEGIC ROLE OF AGRICULTURAL ECONOMY 8 3.0 4.0 5.0 AGRICULTURE FROM THE LOOKING GLASS OF MAN’S ECONOMIC HISTORY 16 AGRICULTURAL ECONOMY FROM PARADIGMATIC VIEWPOINTS ABOUT THE STATE VIS-A-VIS MARKET 21 6.0 NIGERIAN AGRICULTURE FROM THE PERSPECTIVE OF MODELS OF AGRICULTURAL DEVELOPMENT 29 7.0 AGRICULTURAL SECTOR FROM THE LOOKING GLASS OF EVOLUTION OF NIGERIA’S