Africa Economics Review

Africa Economics Review

7th Grade

49 Qs

quiz-placeholder

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Africa Economics Review

Africa Economics Review

Assessment

Quiz

Social Studies

7th Grade

Easy

Created by

Kevin Hogan

Used 109+ times

FREE Resource

49 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a traditional economy, how are economic decisions made? In a traditional economy, how are economic decisions made?

Custom and habit

Government leaders

Consumers and planners

Combination of consumers and producers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who takes on the financial risk in starting a new business in a market economy?

Consumers

Government planners

Individual business people

Combination of planners and investors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is South Africa’s main export

Oil

Textiles

Gold and diamonds

Agricultural products

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country has the largest per capita GDP

Nigeria

South Africa

GDP information is not available

The GDPs are almost all the same.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does voluntary trade help the economy

Voluntary trade mean prices will always be low.

Voluntary trade only works when tariffs are in place.

This sort of trade involves many government regulations

It encourages specialization and usually means more profit.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why did a number of the countries of the United Nations have an embargo on South Africa?

South Africa refused to take part in international trade.

They wanted South Africa to end its system of apartheid.

Some were hoping for better oil deals from the South African government.

They wanted South Africa to lower the world price of gold and diamonds.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is part of a country’s human capital?

Skills and knowledge workers have

Taxes collected from a country’s workers

Money paid to workers for producing goods

The amount of goods sold in foreign trade in a year.

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