How does the cattle industry affect the economy?
raised a large amount of money..
if you also need the social switch and political, i will add them in a sec.
What countries have very industrialized economies?
The role of puny scale industries in Nigeria economy?
The roles of insurance in the development of Nigeria economy?
What is the role of insurance in an economy?
What industries drive the Irish economy?
What industries drive the economy in Spain?
What is a pre-industrial economy?
â¢There are four types of preindustrial societies – hunting and gathering, pastoral, horticultural, and agricultural..
Types of industries in the UAE and their role in influencing the local economy?
Â· The types of small-scale industries are: modern industry and historical industry .
know only this much,.
6th student of ihs.
There are several industries in UAE like Oil & Gas, Manufacturing, Agriculture, etc. etc..
You may get information from various web sites of UAE Govt..
Joseph Johnson, IHS
Types of industries in UAE and their role in influencing the local economy?
Its a 6 th std question. Do a general broad write up about industries & their influence on the local economy in ordinary terms. Detail are available on daily newspapers business section. The write up has to be by the 6 th std student understanding and skill level ( Aap Panchvi pass se tej hai kya?).
another hastled parent.
Its a 6 th std question. Do a general broad write up about industries & their influence on the local economy in plain terms. Detail are available on daily newspapers business section. The write up has to be by the 6 th std student understanding and skill level ( Aap Panchvi pass se tej hai kya?).
another hastled parent
Types of industries and their role in influencing the local economy.?
types of industries in uae and their role influencying the local economy .
6 – A grade .
vallahilazeem look in the web sites an investigate.
How do industries influence the local economy?
What are the role of business and insurance in Nigerian economy?
This sector represents the backbone of Nigeria’s risk management system, ensures financial security, serves as an significant component in the financial intermediation chain, and offers a ready source of long term capital for the infrastructure projects. The role of insurance in the growth and development of our economy cannot be over-emphasized.it mitigates the influence of risk and positively correlates to growth as entrepreneurs cover their exposures, otherwise risk-taking abilities are hampered. Thus, a strong and competitive insurance industry is a compelling imperative for Nigeria’s economic development and growth..
The Nigerian macro-economy overview is a compelling story of progression and advancement, attributably to a stable political environment and successful implementation of socio-economic and financial reforms. However Nigeria has previously been enormously dependent on Oil and Gas revenue, latest statistics demonstrate a switch in this trend. Militants unrest affecting oil producing region have resulted in significant reductions in oil contributions to GDP. On this spin side, enhancing concentrate on developing the non- oil sector, combined with growth in key sectors such as Telecoms and Building Construction have boosted non-oil sector earnings and growth..
As at Aug. 2005, prior to the announcement of the recapitalization directives, there were 22 insurance companies with a market capitalization ofN 28.94 billion listed on the Nigeria Stock Exchange. Now there are 26 active companies with a market capitalization ofN 683.1 billion, a Two,260% growth over two and half years,with fairly a few still expected to be listed this year..
The Nigerian Insurance Industry has evolved over the years following the announcement of fresh capitalization requirements for companies operating the sector. With the conclusion of the consolidation exercise, the number of players dropped from 103 to 49. Activities in the sector , however, noticeably enlargened; with enhanced public awareness of the sector and their operations, rapid expansions and strategic business acquisition, improved visibility and stringent supervisory regulations..
Therefore, in anticipation of the enormity of responsibility of the insurance sector, given the expected role in the transformation of the nation’s economy, the reform in the sector became unpreventable. One of the major outcomes of the consolidation and recapitalization exercise in the sector was the recertification of 49 companies, as against over 100 companies that were in existence in 2005. However, in spite of the reforms, the insurance sector is still faced with daunting challenges, which must be addressed to galvanize the economy..
The growth of this sector was on how effectively the insurers are able to come up with designs suitableto our context and howeffectively they are able to switch the perceptions of Nigerians and make them aware of the insurable risks. Thegrowthalso depended on how service -oriented insurers are going to be, and the effective ness of the regulation. In latest times, NICOM has taken the bold steps the release of trapped funding to the sector, in the verification and recertification of insurance firms, in ensuring that claims are better scrutinized and in guidance note as well as corporate governance..
The following functions were injected into the economy by the sector in order to better the lot of Nigerian Economy;.
a. Provision of indemnity/ compensation: as professional risk bearer that have entered into a contract of insurance with the insured that regularly pays his premium, it believes on the insurance company to indemnify if the insured peril occurs. When indemnified, it cushions the effect of loss suffered by the insured..
b. Reduction of losses: through the payment of indemnity, losses suffered are diminished, making it possible for the sufferer to embark again his business..
c. Distribution or sharing of financial loss: insurance operations enable loss or losses to be distributed among different contributors that mean insurers who normally pay their premium regularly. These insurer contributions or premium normally grow to form what is known as a “pool” of financial resources. If any insured peril occurs, compensation or indemnification is effected from this common pool. Payment made from this common pool indicates or infers that the loss has been distributed among the various premium payers. Infect, the loss cargo has been borne collectively..
d. Confidence in investment: insurance has directly stimulated investment in various fields of human endeavors. Any investor who remembers that he is going to be indemnified if the insured peril occurs will be willing and certain to put more funds in his business or even expand his business..
e. Provision of employment: normally, insurers and insured provide job opportunities to the citizenry. The insurance companies do employ extra arms as their business increases, while investors who take insurance protections are certain to invest and or expand their business. By so doing they identically employ people to work for them..
f. Increase in investment: taking insurance polices to serve as boost to investors and entrepreneurs, various fields of business that are looked upon as very risky are being ventured into, meaning that with introduction of insurance many people are investing without fear of losing their capital..
g. Mobilization of financial resources: different participants in insurance business/ classes of insurance normally pay their consideration/ premium. These insurers mobilize these funds which they utilizes to indemnify losses. Some of these funds are usually invested in other variable businesses or companies. For example, the mobilized fund may be used to buy shares of a blue chip company, attracting dividend to the insurance company yearly..
h. Industrial growth and economic development: insurance business do stimulate entrepreneur to invest, expand, and diversify their various business. By so doing, they are contributing to the over all industrial, commercial and economic development of the nation.
What is importance of entrepreneurs to the UK economy?
Industrial economy of Germany?
How does insurance sector help industry and economy?
What is the Role of Insurance in the Economy of Kenya?
What industries drive the Italian economy?
How does the economy benefit from the construction industry?
What is the influence of the tourism industry on the economy?
How did the entertainment industry affect the economy?
Which industries drive canadas economy?
Is the UK a planned economy?
What is the role of insurance advisor in insurance?
Role of advertising in Indian economy?
What is the role of agriculture in national economy?
What industries drive Peru’s economy?
What is UK economy based on?
How can tourism industry help to economy?
How does the economy effect the hotel industry?
What is transformation of industrial economies?
How does the economy affect the photography industry?
Of what implication to the sureties insurance industry was legislation passed by Congress in 1991 expanding the role of sureties in the cleanup of environmental waste sites?
Which industry is not significant to Mexico’s economy?
When will the UK economy recover?
How did the world economy affect your economy and your industries?
Is the economy of Mexico agricultural or industrial?
What does very industrialized economy mean?
How does the citrus industry affect its economy?
What is the role of insurance industry in Bangladesh economy?
How do industries improve an economy?
Which industry is significant to Mexico’s economy?
How does the skill economy differ from the industrial economy?
What is the role of industry in Mexico’s economy?
What industries drive the economy of Serbia?
What is the importance of hospitality industry in UK economy?
Why is the construction industry so significant to the UK economy?
What was the main industry of the Southern economy?
The industrial revolution had what with European economies?
The industrial revolution had what with European economies-?