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Africa Economic Understandings

Authored by Pam Couey

History

7th Grade

Used 8+ times

Africa Economic Understandings
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a tariff?

a tax paid by purchaser when goods are sold

a tax placed on goods coming into one country from another

a tax placed on goods made by local craftsmen or manufacturers

a fee paid when goods are shipped from one US state to another

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a quota?

a limit placed on the amount of foreign goods being imported.

a tax placed on goods coming into the country from another country.

a decision to prevent certain goods from being imported at all.

a tax placed on goods when they are purchased in the market place.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is a system of currency exchange necessary for international trade?

Nearly all world currencies are worthless on the world market.

Those buying goods on the world market want to be paid in gold and silver.

Most goods bought on the international market must be paid for in US dollars.

There must be a way to pay for goods purchased from countries with different types of currencies.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why has South Africa made a big investment in human capital?

South Africa has no natural resources to develop.

They were forced to provide training and education by the United Nations.

Some of that country's most important industries need educated, skills workers.

Most schools and universities are free because of foreign investment in the country

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which area of capital goods has South Africa invested heavily?

agriculture

space technology

oil production and refining

mining and heavy industry

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which area of capital goods has Nigeria heavily invested?

agriculture

mining and heavy industry

oil production and refining

communications technology

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a result of Nigeria's focus on the oil industry?

the country's lack of a good army

the country's need for new currency

lack of improvements in agriculture

oil production has caused no problem

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