Economics of Africa

Front

What are some major exports from Africa? Options: Gold, oil, diamonds, uranium, and platinum; Oil, gold, coal, timber, and technology; Medicine, diamonds, cars, silver, and copper; Iron ore, coal, sulfur, silver, and platinum

Back

Gold, oil, diamonds, uranium, and platinum

Front

What is a benefit of free trade?

Back

Lower prices/greater variety

Front

Which African nation is a major world supplier of gold, diamonds, and platinum? Options: South Africa, Kenya, Nigeria, Egypt

Back

South Africa

Front

Which country needs to diversify their economy because they depend mostly on oil to drive their GDP?

Back

Nigeria

Front

What was a response to try and stop blood/conflict diamonds? Options: tariff, quota, currency exchange, embargo

Back

embargo

Front

What is a difficulty entrepreneurs face in South Africa, Kenya, and Nigeria?

Back

They can't get loans to start a business and business licences are expensive.

Front

How can an investment in capital goods impact GDP?

Back

Investments in capital goods allow countries to produce more goods and services.

Front

What is infrastructure?

Back

capital goods like roads and power lines

Front

What is a major problem with South Africa's economy?

Back

high unemployment

Front

What is a subsidy?

Back

when the government of a country gives money to certain businesses so they can continue to compete with imports from other countries