Africa Economy

When economic decisions are made by entrepreneurs, this is what type of economy?

• market
• command
• communist
• traditional

Most countries in Africa practice what type of economy?

• traditional
• market
• mixed
• command

When a country taxes products coming into the country, this is called what?

• quota
• embargo
• export
• tariff

The type of money used in a specific country is called?

• currency
• capital
• exchange rate
• tariff

Gross domestic product (GDP) is

• the number of working age people in a country.
• the total value of goods and services a country produces in a year.
• the number of products that the industries produces in a year.
• the average salary that a person earns in a year.

An example of investing in human capital is which of these?

• a mother collecting fire wood
• a teenager learning a specific skill
• a boy taking the cattle to graze
• a child working on the coffee plantation

Which of these is NOT an example of capital?

• factories
• subsistence farming
• technology
• machinery

A ban or restriction of commerce with another country is called?

• export
• embargo
• tariff
• command

A person who starts a business making handbags is called?

• economist
• importer
• industrialist
• entrepreneur

Any policy that gets in the way of free trade is called

• trade barrier
• embargo
• tariff
• quota