Economic Systems Africa

Front

Which trade barrier stops goods from being imported altogether?

Back

embargo

Front

True or false: Most democratic nations have mixed economies.

Back

true

Front

Which trade barrier limits the number of imports from another country? Options: tariff, quota, embargo

Back

quota

Front

True or false: In South Africa, Nigeria, & Kenya, the government controls some major industries.

Back

true

Front

How do economies benefit from international trade?

Back

specialization

Front

Which trade barrier places a tax on imported goods?

Back

tariff

Front

In most countries, people use ________ to get the things they need.

Back

currency

Front

In which type of economy do people use bartering to get what they need?

Back

traditional

Front

Which of these is most like a market system?

• Government provides lots of services
• Individuals can start their own business & charge any price they want
• Government provides food & housing for all people
• Businesses are owned by the government

Back

Individuals can start their own business & charge any price they want

Front

What is specialization in economics?

Back

concentrate on producing a narrow range of goods & services