Africa Economics Review

Front

Why is it important for nations to have a system to convert from one currency to another?

Back

Converting currency makes it possible to buy and sell goods between countries with different types of money.

Front

Kenya's economy suffers from political instability. What business helps Kenya's GDP?

Back

Tourism

Front

Kenya, Nigeria, and South Africa all have what type of economic system?

Back

More private control than government control

Front

What would MOST LIKELY happen to the standard of living in African countries if more efforts were taken to increase literacy rates?

Back

It would increase.

Front

Why does specialization make trade between countries easier?

Back

Countries can produce what they make best and trade with others for what they need.

Front

Which describes how MOST countries around the world answer basic economic questions? A mixture of command and market economies., Most countries are pure market economies., Most countries are pure command economies., A mixture of traditional and market economies.

Back

A mixture of command and market economies.

Front

Which are MOST important in a command economy? Traditions and habit, Government planners, Consumers and the free market, A combination of consumers and government planners

Back

Government planners

Front

Why do most countries in the world today fall somewhere between a market and a command economy?

Back

Most countries have found they need a mix of free market and government control to be successful.

Front

What is the relationship between education and training in a country and the country’s gross domestic product (GDP)?

Back

Countries with a high level of education and training have a higher gross domestic product.

Front

Although both Nigeria and South Africa have an abundance of natural resources, a great number of people live in poverty. Why is this true?

Back

Political leaders have failed to use natural resources to benefit all citizens.