SOCIAL STUDIES(LOCALLY AND FOREIGN-MADE GOODS) YEAR 5 JUNE 30, 2020

LOCALLY AND FOREIGN-MADE GOODS

Trade means selling and buying.

 Currency:  It is a system of money in general use in a particular country. E.g. Naira, Dollar, Euro

 Export: This means goods and services taken to another country for sale.

 Import:  This means goods and services brought in from abroad for sale.

Revenue:  This means income accruing from taxation to a government during a specified period of time.

Local Trade

 The trade of locally produced goods such as yams, plantain and groundnuts between the north and south of Nigeria is a local trade. It is local because the local currency is used.

 International Trade

 When countries buy and sell from each other, it is called international trade. For example, Most of Nigeria's revenue comes from selling crude oil produced in the Niger Delta to companies in the United States and Europe.

 Trade by Barter

 This means exchanging goods for goods. For example, if a person

 wanted to buy some chickens, they would have to give the owner of

 the chicken something that they wanted, maybe a bag of beans.


SOME GOODS EXPORTED BY NIGERIA INCLUDE:

 

     Crude oil 2.  Yam 3.  Cocoa 4.  Leather 5. Plastic products etc

 

SOME GOODS IMPORTED INTO NIGERIA INCLUDE:

1.       Ships 2. Books 3. Aircrafts 4.  Appliances 5.  Drugs 6. Cars 

       7.  Wristwatch 8. Shoes, 9. Mobile phones 10. Clothes etc


Comments

Post a Comment

Popular posts from this blog

PETER’S FIRST SPEECH ON PENTECOST DAY AND ITS EFFECT (Acts 2:14-41)-YEAR 9

  PETER’S FIRST SPEECH ON PENTECOST DAY AND ITS EFFECT (Acts 2:14-41)                                CONTENTS: 1. PETER’S FIRST SPEECH                        2. ITS EFFECT  PETER’S FIRST SPEECH On hearing the false accusation that the disciples who were  under the influence of the Holy Spirit, were drunk, Peter stood  up to refute the charge of drunkenness. This led to his first  speech on the day of Pentecost. Peter told his hearers that it was unlikely that they would be  drunk at the third hour of the day, that is, 9.00am. He made  references to the Old Testament to prove that Jesus of  Nazareth was the Messiah. He quoted Prophet Joel 2:28 to  show that they were not unde...
Read more

Continents of the world. Social Studies (Year 6) 8th May 2020

Image
Social Studies Topic: The Continents of the world Date: 8th May 2020 Learning Objectives: At the end of the lesson, pupils should be able to: 1. Define a continent. 2. List and describe the seven continents of the world. 3. Mention the population of four without of this seven continents. What is a continent?  A continent is a large, continuous area of land on Earth. All continents of the Earth together make up about one-third of the total surface of the planet.  The fact is, more than two-thirds of the Earth's surface is covered by water. The 7 continents of the world 1. ASIA includes 50 countries, and it is the most populated continent, the 60% of the total population of the Earth live here. 2. AFRICA comprises 54 countries. It is the hottest continent and home of the world's largest desert, the Sahara, occupying the 25% of the total area of Africa. 3. NORTH AMERICA  includes 23 countries led by the USA as the largest economy in the world. 4. SOUTH AMERICA  comprise...
Read more

CALL OF JESUS DISCIPLE(2ND TERM) WEEK 1/2

  CA LL OF JESUS DISCIPLE Jesus calls His first four disciples.  Matt 8: 18-22, Mk 1: 14-20, Luke 5: 1-11   A disciple is a pupil, student or follower who receives instructions from his teacher or his master . The first four disciples were Peter and his brother, Andrew; and the two brothers, James and John.   According to Matthew and Mark, one day, as Jesus  was walking along the Sea of Galilee, he saw Peter  and Andrew casting their net into the sea, for they  were fishermen. Jesus called them to be his disciples  saying: “ follow me, and l will make you fishers of  men. ” And immediately, they followed Jesus. A few  meters away from where Jesus called Peter and  Andrew, Jesus met the two brothers, James and  John, the sons of Zebedee. They were with their  father mending their broken nets. Jesus called them  and immediately, they left their father and followed  him.   The gospel of Luke gives another...
Read more