Economies of Africa: Review

What is Nigeria’s main export?

• Oil
• Ivory
• Gold
• Food

 All of these are areas that South Africa has specialized except which? 

• Gold
• Diamonds
• Ivory
• Platinum

Most countries in Africa practice what type of economy?

• traditional
• market
• mixed
• command

Nigeria has large deposits of oil and is currently exporting a significant quantity of oil. However, Nigeria has very few industries outside of oil and no other significant natural resources. How does this impact Nigeria's GDP?

• Makes the GDP more dependence on agriculture.
• Makes the GDP more dependent on oil production.
• Makes the GDP inaccurate because there is little industry.
• Makes the GDP inaccurate because there is only one major natural resource in the country.

Which statement would a researcher use to prove South Africa is more related to a market economy than a command economy?

• Much of South Africa's GDP comes from private industries that freely compete in the world market
• Due to the effects of Apartheid, the government in South Africa runs many social programs
• Education and healthcare are primarily dominated by the government in South Africa
• Businesses are legally required to pay taxes to the government in South Africa

Under which economic system does the government make almost all of the economic decisions?

• Command
• Market
• Traditional
• Capitalist

In South Africa it is easy to start a business. In addition, private property rights are well protected. What impact does this have on the role of entrepreneurs in South Africa?

• Entrepreneurs are not affected
• The efforts of entrepreneurs are limited because of a lack of government rules.
• Entrepreneurs will have no real impact on the economy of South Africa
• Entrepreneur can make a significant contribution to South Africa's economy.

In which resources has South Africa specialized?

• oil production
• grain production
• textile manufacturing
• gold and diamond mining

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

• There are no educated people in either of these countries to raise the standard of living.
• Nigeria and South Africa have been at war with each other for 30 years which has prevented growth of the economy.
• Political leaders have failed to use natural resources to benefit all citizens.
• Both countries are ruled by white minorities that prevent all people from making a good income.

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