What are the classification of Nigeria economy?
The economy of Nigeria is a middle-income, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDP, and the 24th-largest in terms of purchasing power parity.
What are the five socio-economic factors?
Viewing such a medium as a form of new innovation, the five socio-economic characters namely gender, age, income level, education level and the exposure to the Internet were hypothesized to see whether there was any relationship between these five factors and the consumer’s willingness to adopt e-commerce.
What do you mean by socio-economic development?
Socio-economic development is the process of social and economic development in a society. Socio-economic development is measured with indicators, such as GDP, life expectancy, literacy and levels of employment.
What drives the Nigerian economy?
Main Sectors of Industry. The Nigerian economy is dominated by crude oil, which accounts for about 10% of the country’s GDP, 70% of government revenue and more than 83% of the country’s total export earnings, according to OPEC. The industrial sector makes up 27.4% of the GDP and employs 12.2% of the workforce.
What do you mean by socio-economic?
The term socioeconomic refers to the interaction between the social and economic habits of a group of people — like the dating habits of millionaires! The prefix socio- refers to “the study of the behaviors of people,” including the ways they interact with one another or their family structures.
What are the 3 socio-economic factors?
Socioeconomic factors are measured by the position of the household (individual indicators of education, occupation, income, marital status) or by area-based indicators of deprivation.
What is the socio-economic status of Nigeria?
SES is broken into three categories, high SES, middle SES, and low SES. Given the HUGE potential of both human and natural resources in Nigeria,the expectation is that the country should by now rank high among the industrialized nations of the world. What is stopping them from that you ask?
Which is the socio economic classification of India?
The Socio-Economic Classification (SEC) was created in 1988 and ratified by the Market Research Society of India (MRSI). It refers to the classification of Indian consumers according to the two parameters: occupation and education of the Chief Wage Earner of the households.
Who are the upper class people in Nigeria?
Kambili’s family would be considered to be upper class/ wealthy. Ninety-two percent of middle-class Nigerians have a post-secondary education or have studied at higher institutions of learning
Where does Nigeria rank in terms of SES?
So..When analyzing someones SES, those THREE areas are studied. SES is broken into three categories, high SES, middle SES, and low SES. Given the HUGE potential of both human and natural resources in Nigeria,the expectation is that the country should by now rank high among the industrialized nations of the world.