7th Grade Economy-Africa-10.29 Assessment

Front

What is a tariff?

Back

A tax placed on imports

Front

What is an embargo?

Back

A government order to stop trade.

Front

Nigeria specializes in _____.

Back

Oil

Front

South Africa specializes in ____: Oil, Diamonds, Uranium, Technology

Back

Diamonds

Front

A person who comes up with a product or service, and finds the money and time to produce this new product.

Back

Entrepreneur

Front

Capital goods are

Back

all of the factories, machines, technologies, buildings, and property needed by businesses to operate

Front

Natural resources are

Back

all the items that are grown and developed by nature

Front

How do countries benefit from having natural resources?

Back

Countries that have a lot of natural resources are able to use them to produce goods & services at a lower price than those who do not.

Front

Workers who are educated, healthy, and trained; use of this resources allows businesses and countries to be successful

Back

human capital

Front

If a country goes to war with another, which trade barrier would MOST LIKELY be used?

Back

Embargo