Africa, 7th grade

Which terms are in the correct order to match who makes economic choices (what to produce, how and for whom) in the following types of economies?

Command; Market; Traditional

• Government; People; Ancestors

• People; Ancestors; Government

• Ancestors; People; Government

• Government; Government; People

Company "Smart & Successful" is a business in the service sector that helps students find the best college to attend. The company is offering training on the new app they will launch to their current employees.

By offering this training, the company is investing in what for their employees in the hope that it will benefit the company overall?

• capital goods

• natural resources

• human capital

• entrepreneurship

A country hopes to increase its GDP and the standard of living of their citizens by investing in alternative forms of energy such as solar and wind.

The country is investing in what by building infrastructure such as wind turbines and solar panels?

• entreprenuership

• human capital

• capital goods

• subsidies

Johnny believes healthcare should be privatized and the government should not intervene.

Which statement below is true?

• Johnny desires to live in a command economy.

• Johnny wants to live in country where the public sector dominates healthcare.

• Johnny would be most happy living in a mixed market economy.

• Johnny should campaign politicians to become more involved in social areas of society.

Finish the sentence with the most plausible relationship.

The higher the literacy rate...

• the lower the standard of living.

• the lower the GDP.

• the higher the standard of living.

• the higher the unemployment rate.

Which country needs to increase investments in human capital?

• South Africa

• Nigeria

• Kenya

• Zimbabwe

Headline: South Africa Decreases Trade Barriers

What will most likely happen next?

• Countries will respond with more trade barriers.

• International trade with other countries will increase.

• South Africa's economy will flourish and GDP will double.

• South Africa's economy will be hampered by corruption.

Many African nations have been plagued with civil wars since independence.

How would entrepreneurs review this history?

• They probably would disregard it because government stability does not impact economic success.

• They would probably proceed more cautiously because they would be worried over whether the government would carry out the laws.

• They would probably move forward aggressively because they know they can make the most profit where there is no rule of law.

• They would be more interested in the population demographics and not overly concerned with past conflict as history rarely repeats itself.

Which of the following statements are true?

• Natural resources are not distributed evenly causing economic disparity among nations in Africa.

• Distribution of natural resources are fairly consistent throughout the continent of Africa and nations prosper evenly from them.

• North Africa has large oil deposits and Sub Saharan Africa is heavily concentrated in precious stones such as diamonds.

• Africa has a scarcity of natural resources and this is why they are considered poor and developing.

Why did many countries enforce embargoes on South Africa in the 1990s?

• They thought that offering loans would help recover the failing economy that was a result of European Partitioning.

• Many nations wanted to limit South Africa's economic success because they were jealous of their high literacy rate and rising GDP.

• Countries were appalled with apartheid and knew only the most severe economic sanction would cause political change.

• Nations believed that restricting trade with South Africa would help to increase their own investments in factors of production.