1.

Developing economies, like Nigeria’s, are in the process of moving from a(n) __________ to a(n) __________ economy.

Answer» <html><body><p>The economy of Nigeria is a middle-income, mixed economy and <a href="https://interviewquestions.tuteehub.com/tag/emerging-450646" style="font-weight:bold;" target="_blank" title="Click to know more about EMERGING">EMERGING</a> market, with expanding manufacturing, financial, service, communications, technology and entertainment <a href="https://interviewquestions.tuteehub.com/tag/sectors-1198858" style="font-weight:bold;" target="_blank" title="Click to know more about SECTORS">SECTORS</a>.[25][citation needed] It is ranked as the 26th-largest economy in the world in terms of nominal GDP, and the 24th-largest in terms of purchasing power <a href="https://interviewquestions.tuteehub.com/tag/parity-1147091" style="font-weight:bold;" target="_blank" title="Click to know more about PARITY">PARITY</a>.[26] Nigeria has the largest economy in Africa; its re-emergent manufacturing sector became the largest on the continent in 2013, and it <a href="https://interviewquestions.tuteehub.com/tag/produces-1167808" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCES">PRODUCES</a> a large proportion of <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a> and services for the West African subcontinent.[27] In addition, the debt-to-GDP ratio is 16.075 percent as of 2019.[28]</p></body></html>


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