The economy can be divided into different sectors to explain the purpose of industries. The three main sectors of an economy are: Primary Sector This involves taking raw materials from the land. For example, part of the primary sector is mining and from the ground. This also includes agriculture like
EMAIL US AT
hello@rightforeducation.org
All Posts by HENRY XUAN
How investors see Africa today
Investment is a very important part of growth for an economy because it provides the resources to produce goods and services more effectively. Countries in Africa have recently been attracting larger amounts of investment from foreign companies (known as FDI). Let’s explore what it is that helps investors make decisions
How banks benefit the economy and you
WHAT DO BANKS DO? Fundamentally, banks allow consumers to save their money and lend money to those who need it and can pay it back. Many people save some of their income because it provides security if the future is uncertain or they may be saving it for their children.
Free trade and the African market
Countries today are importing (buying) and exporting (selling) goods from each other more than ever before. This is because of an increase in “free trade.” If a country chooses to increase free trade, they are removing barriers that are stopping trade between countries. Types of trade barriers include quotas and
The agricultural potential of Africa
Agriculture and farming is the largest economic sector in Africa making up about 15% of total output. However, Africa has a growing population with a large demand for food. While the agricultural sector is large, there are still many improvements that can be made. African agriculture has the potential to
The importance of sustainable growth in Africa
If something is sustainable, this means that you can keep doing it or using it at the same rate in the future. In the context of economics, sustainable growth means growing the economy without leading to harmful future consequences. It may seem easier to grow in the short term by