Day: March 7, 2023

Poverty can be defined in two ways: Absolute terms Relative terms Absolute terms – we define poverty by picking a certain period income level (10,000 p.m) and say that any family or individual whose income falls below this level is Read More …

Employment: people are said to be employed if they engage in some economically productive activities with the purposes of earning income/money. Employment can be divided into two types mainly:- Self employment/informal employment Salaried/wage or formal. Self employment/informal Is a situation Read More …

The concept of labour movement is used to refer to trade unions or labour unions, their organization and operations. Types of Labour unions/trade unions Craft Trade union This refers to an association of skilled workers who perform the same kind Read More …

Population: refers to the number of people living in a particular area at a specific period of time. It includes both permanent and temporary residence of a place. Demography: refers to population composition, patterns and structures in terms of age, Read More …

Economic growth –Refers to the changes (increases/decreases) in the level of output (amount of goods and services) produced in an economy within a period of one year i.e. It is an increase/decrease in real Gross Domestic Product (GDP) and real Read More …

Economics: is the study of human efforts in order to satisfy what appears to be unlimited and competing through careful use of relatively scarce resources. It is therefore a social science that studies the relationship between the scarce resources and Read More …