7th grade Africa economy

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

All of the following are synonyms for the citizen who gets to make economic choices in a market economy EXCEPT...

• Consumer

• People following laws of supply and demand

• Private businesses

• Central Authority

Kenya focuses on farming tea because the country's geography in the savanna is good for agriculture. This is an example of _____________________.

• globalization

• entreprenuership

• subsidies

• specialization

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.

What are South Africa's specialties?

• gold

• diamonds

• platinum

• petroleum

Which country needs to increase investments in human capital?

• South Africa

• Nigeria

• Kenya

• Zimbabwe

Nigeria has the wealthy natural resource of oil. What is the country lacking in order to profit from the oil?

• a government that is unstable

• a population with perserverance

• capital investments in oil refineries

• boats to transport the oil