Africa's Economy E1

Which of the following is NOT one of the basic questions that all economic systems must answer:

• What to produce?

• How to produce?

• How much to produce?

• For whom to produce?

Tribes in Kenya use bartering to trade and practice which type of economy?

• Traditional

• Command

• Market

• Mixed

The economies of South Africa, Nigeria, and Kenya can be best described as:

• Traditional.

• Command.

• Market.

• Mixed.

Which African economy has the most free (from government control) mixed economy?

• Kenya

• Nigeria

• South Africa

• All of the above

Which characteristic BEST describes South Africa’s economy?

• Market-leaning

• Traditional

• Command-leaning

• Pure market

What is the best description of a traditional economy?

• a small economy based on tradition

• a large economy based on business owners

• a government-controlled economy

• an economy with limited government control

Who typically operates a command economy?

• President

• The citizens

• King or Queen

• Dictator

Who controls the quantity (amount) of goods and services produced in a command economy?

• The people

• Foreign (other) countries

• Supply and Demand

• The government

Which is the best description of a market economy?

• Businesses making decisions based on the needs of a consumer

• Supply and Demand

• Very little government control

• All the above

Which type of economy encourages entrepreneurship and supply-and-demand?

• Market Economy

• Traditional Economy

• Command Economy

• Dictator Economy