African Economies 2020 Unit Review

A person brings together capital, natural, and human resources to start a custom furniture business. This is an example of

• a natural resource

• human capital

• a capital good

• entrepreneurship

In Ghana it is easy to start a business. In addition, private businesses get great benefits. What impact does this have on a role of entrepreneurs in Ghana?

• Entrepreneurs are not affected.

• The efforts of entrepreneurs are limited because of a lack of government rules.

• Entrepreneurs will have no real impact on the economy of South Africa.

• Entrepreneurs can make a big contribution to South Africa's economy.

Although both Nigeria and South Africa have an abundance of natural resources, a great number of people live in poverty. Why is this true?

• There are no educated people in either of these countries to raise the standard of living.

• Political leaders have failed to use natural resources to benefit all citizens.

• Both countries are ruled by white minorities that prevent people from making a good income.

• Nigeria and South Africa have been at war with each other for 30 years which has prevented growth of the economy.

When a country improves its factories, technology, and infrastructure (roads/ports/etc.), which of the following resources is it investing in?

• human capital

• capital goods

• natural resources

• currency

The government of South Africa is spending money to build more roads, railroad tracks, and other infrastructure throughout the country. Why?

• When they invest in capital goods, it boosts the economy.

• When they invest in capital goods, it keeps the economy from collapsing.

• When they invest in capital goods, the people are more willing to work for less pay.

• When they invest in capital goods, the government can bribe the people to work more.

Which of these would be an example of investing in capital goods?

• Upgrading the factories, tools, or technology in your country.

• Providing better education for your citizens.

• Exploring for more crude oil in your country.

• Providing better doctors in the healthcare system for your citizens.

What is the relationship between education and training in a country and the country’s gross domestic product (GDP)?

• Countries with a high level of education and training have a higher gross domestic product.

• Gross domestic product only deals with the amount of investment in factories and machinery.

• The role of entrepreneurs is the only factor affecting gross domestic product.

• There is no relationship between education and training and gross domestic product.

The literacy rate for women in Sudan is low because they have limited access to formal education. What effect might this have on the lives of people in Sudan?

• The standard of living is lower in Sudan than in other countries that educate their women.

• Only men in Sudan need a formal education because they work outside the home.

• The formal education of women doesn’t play a role in the standard of living.

• Women in Sudan don’t need formal education because they stay at home.

What would MOST LIKELY happen to the standard of living in African countries if more efforts were taken to increase literacy rates?

• It would decrease.

• There is no relationship between the two.

• It would not change.

• It would increase

If Madison, a student from Kennesaw, Georgia, is traveling to Nigeria she needs to pack appropriately. She has checked the weather and her clothes and other goods are packed. What is something else she needs to make sure that she does to ensure that she can purchase things in Nigeria?

• She needs to exchange her American money to Nigerian money.

• She needs to exchange her American money for British pounds.

• She needs to exchange her passport for Nigerian money.

• She needs to exchange her American debit card with someone from Nigeria.