7th - African Economics

7th - African Economics

7th Grade

30 Qs

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7th - African Economics

7th - African Economics

Assessment

Quiz

7th Grade

Medium

Created by

Mr. Downes

Used 33+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Most goods must be paid in US dollars

The people buying goods want to be paid in gold and silver

All currencies are worthless on the world market

To pay for goods purchased from different countries

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A tariff is a?

Tax

Stop on all trade

Natural Resource

Leader

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

South Africa has an abundance of natural resources in ALL of the following EXCEPT?

Diamonds

Gold

Silver

Platinum

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system do citizens have little to NO say in the economy?

Market

Command

Traditional

Communism

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system do citizens have the MOST freedom in what to produce, make and sell?

Market

Command

Traditional

Autocracy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system do MOST countries in the world have?

Traditional

Market

Mixed

Command

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True/False: There are NO pure market or pure command economies in the world.

True

False

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