National Economy - JSS3 Social studies Past Questions and Answers - page 2
Where is the Kurmi market located, known for its trading activities?
Lagos
Kano
Abuja
Port Harcourt
Which economic activity involves the creation of livelihoods through the exchange of goods?
Manufacturing
Trading
Farming
Fishery
What is a major consideration for Nigeria's economic self-sufficiency in manufacturing?
Import dependence
Sustainable fishing
Over-reliance on agriculture
Local production
What is the primary focus of the market in Lagos known as Balogun?
Manufacturing
Trading
Farming
Fishery
What are some examples of economic activities within the national economy of a country?
Economic activities include trading, farming, manufacturing, and fishery, among others.
How does the agricultural sector contribute to Nigeria's economy?
The agricultural sector in Nigeria contributes significantly by cultivating crops such as cassava, yams, and cocoa, as well as engaging in livestock farming. It provides food and raw materials for various industries.
Explain the importance of sustainable fishing practices in the context of Nigeria's economy.
Sustainable fishing practices are crucial to maintaining fishery resources in Nigeria. This ensures the long-term availability of fish for domestic consumption and export while preserving the environment.
What role does trading play in Nigeria's economic landscape, and can you name a notable trading market in the country?
Trading involves the buying and selling of goods, fostering economic exchange, and creating livelihoods. Balogun Market in Lagos is a notable trading hub in Nigeria.
How does the manufacturing sector contribute to economic self-sufficiency in Nigeria?
The manufacturing sector in Nigeria focuses on producing goods from raw materials, promoting economic self-sufficiency by reducing dependency on imports. This helps in building a more resilient and diverse economy.
Why is it essential to balance and promote local production in Nigeria's economic activities, especially in the context of manufacturing?
Balancing and promoting local production in Nigeria's economic activities, especially in manufacturing, are essential to reduce import dependence. This fosters economic independence, job creation, and overall economic growth.