Opeyemi Quadri 
What Is An Obsolete Currency? When a currency is no longer in use and can not, therefore, be used as a means of exchange by the country of origin, it is called obsolete currency. In the 1990s, my grandma showed us some currencies that were of significant value during her youthful days. She kept it … Read more
There are basic economic problems every economy faces. Definitely, there will be the availability of limited resources. Human wants are insatiable that’s one of the reasons scarcity arises. Let’s assume that there are more than enough resources, the economic problem would not probably arise. But the study of economics makes us understand that there will always be … Read more
What is inflation? The most popular definition of inflation is, “an increase in the average level of prices”. Specifically, inflation is a condition whereby supply persistently fails to keep pace with the expansion of demand. Simply put, inflation is a state of disequilibrium in which too much money is chasing a few goods. The opposite … Read more
What is scale preference? A scale of preference is a list of human wants arranged in order of priority. It is a priority rating of all individual wants according to their importance. Everyone has a form of a scale of preference even in some situations when one has enough cash to purchase books, the latest … Read more
What is scarcity? Scarcity is the inability of human beings to provide themselves with all the things they want or desire at a specific time. It is one of the most important elements in economics. It forms the core of the economic problems. It creates a “problem” and the ability of humans to effectively manage … Read more
Definitions of Economics Economics is the act of creating wealth and the management of such wealth in the long term. To some people, economics is the study of scarcity. Men will have to manage the available resources within their reach or choose between the competing alternatives. It is the study of wealth for human satisfaction i.e how money … Read more
Price floor is a price control mechanism employed by the government, institutions or companies on how low the price of a product or service can be. Simply put, the lowest price in the price band is called the price floor. The opposite of this economic jargon is cap price (price ceiling) which is the highest … Read more
The strongest currencies in Africa in 2023 in terms of US Dollar exchange rate are Tunisian Dinar, Libyan Dinar, Moroccan Dirham, Ghanaian Cedi, Seychellois Rupee, Botswana Pula, Eritrean Nakfa, Namibian Dollar, Lesotho Loti, and Swaziland Lilangeni. In this post, we will compare currencies in Africa against the United State dollar and come up with the 15 most valuable currencies on the continent … Read more
What is Islamic banking? Islamic banking entails banking activities that are compliant with Shariah. Also known as Islamic finance, it encompasses financial activities, particularly in the banking world, which adhere to Islamic law. This article is about the advantages of Islamic banking for business growth. Tenets of Islamic Banking The religious system forbids the payment … Read more
There are more than 40 private jet owners among Nigeria’s super-rich, comprising businessmen and women, politicians, pastors, and A-rated musicians. And of course, extremely wealthy Nigerians prefer privacy, and one of the ways to achieve this is by flying in their private jets Top on this list includes Aliko Dangote, Femi Otedola Bola Tinubu, Pastor … Read more