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SS1: ECONOMICS - 2ND TERM

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  1. Firms & Industry | Week 1
    4 Topics
  2. Firms & Industry (Business Organisation) | Week 2
    5 Topics
    |
    1 Quiz
  3. Population Theory I | Week 3
    3 Topics
  4. Population Theory II | Week 4
    3 Topics
  5. Population | Week 5
    3 Topics
  6. Population Distribution | Week 6
    4 Topics
  7. Population Census | Week 7
    3 Topics
    |
    1 Quiz
  8. Labour Market | Week 8
    3 Topics
    |
    1 Quiz
  9. The Nature of the Nigerian Economy | Week 9
    4 Topics
    |
    1 Quiz
  10. Agriculture | Week 10
    4 Topics
    |
    1 Quiz




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Topic Content:

  • Classification of Industries in Nigeria
  • Contribution of Primary, Secondary & Tertiary Sector

Classification of Industries in Nigeria:

1. Primary Sector
2. Secondary Sector
3. Tertiary Sector

1. Primary Sector: The primary sector of the economy includes industries concerned with the extraction and production of raw materials, such as mining, farming, logging, fishing, forestry and livestock production. This sector makes up a larger portion of the economy in developing countries than it does in developed countries.

 

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Question 1

Highlight the various contributions of the primary and secondary sector in Nigeria

Solution

Contributions of Primary Sector

  • It provides raw material to the industrial sector
  • It contributes to the increase in the GDP of the country
  • It is the pathway for a successful secondary sector
  • It provides employment opportunities for the masses
  • It provides economic stability in the country

Contributions of Secondary Sector

  • It enables the country to be involved in the processing of goods
  • It involves converting raw materials into finished products
  • It provides job opportunities for the people
  • It also provides professional services for the masses
  • It provides economic stability in the country.

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