Africa's Economic Systems

Based on South Africa's location on the economic continuum, it can best be described as:

• market-leaning

• command-leaning

• mostly traditional

• all of the above.

Which economic system is being described below?

• Traditional

• Market

• Command

• A mix of Market and Command

Which statement accurately describes Kenya, Nigeria, and South Africa's economic system?

• Pure Market

• A mix of Market and Command

• Pure Command

• Mostly Traditional

Which country has the highest amount of government regulation? (The government owns or regulates banking, mining, oil, and electricity.)

• The country at Letter A.

• The country at Letter B.

• The country at Letter C.

• None of the above

Which country now has the largest economy in Africa because of its ability to export oil all over the world? (It is the largest producer of oil in Africa.)

• The country at Letter A.

• The country at Letter B.

• The country at Letter C.

• None of the above

Nigeria is represented by which letter on the economic continuum below?

• A

• B

• C

• None of these

In rural African villages, bartering is used as a means of trading goods. What type of economic system is bartering typically found in?

• Market

• Mixed

• Command

• Traditional

In a market economic system, decisions are made based on __________________.

• supply and demand.

• customs and traditions of the past.

• government control.

• None of the above.

During Nigeria’s long period of military rule, what type of economic system did it have?

• Market

• Mixed

• Command

• Traditional

Which of the following would reflect South Africa's mixed economy?

• A combination of privately-owned businesses and government regulations.

• The country’s distribution of resources is based on inheritance.

• All economic decisions are based on customs and beliefs of ancestors.

• Prices and wages are solely regulated by the country’s government.