Africa Economics Key Terms

Front

Define Literacy Rate

Back

Amount of people who can read and write

Front

Define GDP

Back

Estimated total value of the final goods and services produced in a nation in a years’ time

Front

Which nation produces the most oil in Africa?

Back

Nigeria

Front

Which of the following is important to South Africa's economy? caol and timber, fruits and vegetables, oil and natural gases, gold and diamonds

Back

gold and diamonds

Front

Someone who takes a risks and starts a business.

Back

entrepreneur

Front

Kenya has a literacy rate of 82.8%, Nigeria has a literacy rate of 59.6%, and South Africa has a literacy rate of 94.3%. What conclusion can you make about this information?

Back

South Africa has the highest literacy rate

Front

A specific number limit placed on the number of imports that may enter a country.

Back

a quota

Front

The refusal to purchase good/service from a specific company or country.

Back

boycott

Front

Tax on imports

Back

tariff

Front

A government order stopping trade with another country.

Back

embargo