Africa Factors of Production - Bridge

What does “gross domestic product” mean?

•   total cost of every product made in a country

• total value of all goods and services produced by a country in a single year

• disgusting products that make people sick

• dirty houses

The US’ GDP is about $58,000 while the GDP of most African countries is less than $5,000. What can you infer about the standard of living in most African countries compared to the US?

•   people in Africa don’t need as much money

•   the US is selfish and should share their money

• the standard of living in most African countries is poorer than in the US

•   people in Africa should move

What is a country’s GDP divided by its population called?

• Per capita

• Population money

• Standard of living

• Literacy rate

Which productive resource can be a source of income when exported?

•      Entrepreneurship

• Human Capital

• Natural Resource

• Capital Goods

What resource is the basis of Nigeria’s economy?

• Gold

•   Diamonds

• Oil

• Fish

Why is most of Nigeria’s population living in poverty when the country exports more than 3 million barrels of oil each day?

• They are lazy and refuse to work

• Government keeps the money for wars

• No one wants to buy oil

• The price of the oil is too low

When a country invests in education for its citizens, what is it increasing?

• Literacy rate

• Human Capital

• GDP

• All of the above

Which country has been building more schools in rural areas, improving roads, and providing more electricity in order to help its economy grow?

• South Africa

• Nigeria

• Kenya

• Somalia

Describe the relationship between a country’s literacy rate and its standard of living:

• The lower the literacy rate the higher the standard of living

• The higher the literacy rate the lower the standard of living

• The higher the literacy rate the higher the standard of living

• None of the above

If a country wants to increase its literacy rate, what do you suggest the country should invest in?

• Natural Resources

• Education

• Entrepreneurs

• Government