Which country is known for having the largest foreign currency reserves due to its export activities?

Economic Challenges and Opportunities in Nigeria

Interactive Video
•
Business, Social Studies, Economics
•
9th - 12th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
United States
China
Germany
India
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why does Nigeria import items from China that it can produce locally?
Because of government policies favoring imports
Because it is cheaper to import than to produce locally
Due to better quality of Chinese products
Due to lack of local demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the typical factors of production mentioned in the transcript?
Land, labor, capital, and entrepreneurship
Labor, capital, innovation, and resources
Technology, labor, capital, and innovation
Land, technology, capital, and management
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a major consequence of infrastructure deficiencies in Nigeria?
Higher logistics costs and delays
Lower operational costs
Increased foreign investments
Improved power supply
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a significant challenge for businesses in Nigeria regarding labor?
Low wages
Overqualified workforce
Excess of skilled workers
High unemployment and skill gaps
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What financial issue do Nigerian businesses face?
High interest rates and strict collateral requirements
Abundant venture capital
Easy access to loans
Low interest rates
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a major challenge in the agricultural sector in Nigeria?
Lack of demand for agricultural products
Land ownership system
Overproduction of crops
Excessive rainfall
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