Africa economics study guide

As the map illustrates, Africa is exceedingly rich in natural resources, chiefly precious metals and oil. A significant part of the continent makes its money on diamonds, gold or oil.

How does this map relate to the distribution of natural resources for countries such as Nigeria?

• Nigeria has no natural resources. They need to develop industry and import raw materials in order to export finished goods.

• Nigeria is rich in gold and diamonds, and they need to learn to mine these resources effectively in order to trade for other resources from other African countries.

• Nigeria has many natural resources; however, they are land-locked and need to effectively work with other nations to move natural resources through other countries for exporting.

• Nigeria is rich in oil and natural gas, and they need to drill for petroleum products effectively and develop refineries in order to trade for other resources from other African countries.

The Sub-Saharan area of Africa is known for its rich mineral wealth, such as gold, diamonds, oil and tungsten. It is a source of great wealth, but also a source of war and exploitation in history by colonial powers.

What major economic problem has this led to in the countres of Sub-Saharan Africa?

• no lack of manufacturing capabilities and no need for exporting of finished goods and services

• lack of manufacturing capabilities and no need for major importing of finished goods and services

• lack of manufacturing capabilities and the need for major importing of finished goods and services

• no lack of manufacturing capabilites, but a need for countries to export finished goods and services

Which of these is the BEST definition of "literacy rate"?

• the ability to speak one or more languages fluently

• the ability to read and write at an appropriate and functional level

• the measure of a country's reading level compared to that of other countries

• the percentage of people who are able to read and write as compared to those who cannot

Which of these has the BIGGEST negative impact on North Africa's economy?

• The Savannas

• The Sahara Desert

• The Kalahari Desert

• The Mediterranean Sea

In Nigeria, people can open their own businesses, choose their careers and job paths, and can purchase a wide array of consumer goods. However, the national government institutes tariffs on imported goods, has a significant share in the oil industry, and regulates much of the country's industry.

Based on this description, Nigeria could BEST be categorized as a ___ economy.

• command

• market

• mixed

• traditional

In Nigeria, people can open their own businesses, choose their careers and job paths, and can purchase a wide array of consumer goods. However, the national government institutes tariffs on imported goods, has a significant share in the oil industry, and regulates much of the country's industry. Still, Nigeria has a well-developed financial and communications sectors, a national stock exchange, and an abundance of natural resources,

Where does this description put Nigeria on a continuum between pure market and pure command?

• almost all Command Economy

• more Command than Market Economy

• more Market than Command Economy

• almost all market economy