Growth in 21st century

Question 1

5 Fastest growing industries

Answer 1

Energy innovation technologies
Information technology
Telecommunications
Genetic technologies
Environmental technologies

Question 2

(4) Technology’s role in growth

Answer 2

Shares take 300 milliseconds to move
Internet allows easy contestability in foreign markets
Shipping costs fall 50% per year
3.4% of GDP growth in large countries from internet

Question 3

(3) Opening of Nigerian Market

Answer 3

180 million consumers will overtake US by 2045
Fastest projected growth for next 30 years
1 in 5 SS Africans live in Nigeria

Question 4

(2) Importance of oil

Answer 4

Accounts for 40% of Nigerian GDP and 80% of revenue

Brazil’s economy contracting 5.9% + Russia 3.8% w/ oil= 13% and 16%