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GEOGRAPHY PRACTICAL STUDY TOPICS 🗣STUDY THEM ALL❗️
📌MAP READING:Go through this topics, map scale, mapcopying,drainage,pattern, direction and bearing, major relief Features, measurement of distance on map extract.
¶ Solar system.
¶ Earth as a planet.
¶ Latitude and Longitude.
¶ Rocks.
¶ Weather and Climate.
¶ Soils, environmental.
¶ Resources.
¶ Transportation.
¶ Settlement.
¶ Manufacturing industry.
¶ Trade.
¶ Agriculture.
¶ Population.
¶ Ecowas.
GEOGRAPHY PRACTICAL STUDY TOPICS 🗣STUDY THEM ALL❗️
📌MAP READING:Go through this topics, map scale, mapcopying,drainage,pattern, direction and bearing, major relief Features, measurement of distance on map extract.
¶ Solar system.
¶ Earth as a planet.
¶ Latitude and Longitude.
¶ Rocks.
¶ Weather and Climate.
¶ Soils, environmental.
¶ Resources.
¶ Transportation.
¶ Settlement.
¶ Manufacturing industry.
¶ Trade.
¶ Agriculture.
¶ Population.
¶ Ecowas.
3ci. Poverty in Africa can contribute to low capital formation because limited financial resources make it difficult for individuals and businesses to invest in productive assets and infrastructure. This hinders economic growth and development, which in turn affects the ability to accumulate capital.
ii. Low savings in Africa contribute to low capital formation because when people have limited savings, they have less money available to invest in businesses, education, or infrastructure. This hampers the ability to accumulate capital and slows down economic growth and development.
iii. Wasteful expenditure in Africa contributes to low capital formation because when resources are spent inefficiently or on non-productive activities, there is less money available for investments in productive assets, infrastructure, and human capital. This hinders economic growth and the accumulation of capital necessary for development.
Iv. When people in Africa have a high propensity to consume, meaning they spend a large portion of their income on immediate consumption, there is less money available for saving and investment. This leads to low capital formation as there is limited funding for productive assets and infrastructure, hindering economic growth and development.
7.a)
(i) Exports: The main exports of most West African countries include natural resources such as oil, gas, minerals, and agricultural products such as cocoa, coffee, cotton, and cashew nuts. Some countries also export manufactured goods such as textiles, clothing, and processed food.
(ii) Imports: West African countries import a variety of goods including machinery, vehicles, pharmaceuticals, and consumer goods such as clothing and electronics. Some countries also import food products such as rice and wheat.
b)
1. Lack of infrastructure: Poor transportation networks, inadequate customs facilities, and border challenges impede trade among West African countries.
2. Limited diversification: Many West African countries are overly reliant on a narrow range of products, leading to a lack of complementary trade relationships.
3. Trade policies: Protectionist policies such as high tariffs, non-tariff barriers and other trade restrictions limit trade between West African countries.
4. Political tensions: Historical conflicts and tensions among countries in the region, such as border disputes, civil wars, and territorial claims have made trade among the countries difficult.
Q8 a) Economic integration refers to the process of increasing economic interdependence among countries by dismantling barriers to the flow of goods, services, capital, and labor across borders.
b) (i) Free trade area refers to an agreement between two or more countries to remove trade barriers such as customs duties and quotas on goods traded between them while each country keeps its own trade policies with respect to non-member countries.
(ii) Custom union refers to an agreement between two or more countries to eliminate tariffs and other trade barriers among themselves and to establish a common external tariff on goods imported from non-member countries.
c) The four features of an economic union are:
1. Common market: member countries allow free movement of goods, services, capital, and labor within the union.
2. Harmonization of economic policies: member countries align their economic policies, especially with regard to monetary and fiscal policies, to coordinate their economic activities.
3. Common currency: member countries adopt a single currency to facilitate trade and investment among the countries.
4. Political cooperation: member countries cooperate on political matters, including foreign policy and common defense and security.
3b. Capital formation refers to the process of increasing the stock of capital in an economy over time through investments in physical and human capital. On the other hand, capital consumption refers to the reduction or depletion of the existing stock of capital due to wear and tear, obsolescence, or other factors.
Question 3
A. capital refers to the financial resources, assets, or investments used in the production and distribution of goods and services. It includes physical capital like machinery and equipment, as well as financial capital like money and stocks.
