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WorksheetsAfrica Economy
Total questions: 20
Worksheet time: 40mins
Name
Class
Date
1.
When economic decisions are made by entrepreneurs, this is what type of economy?
a)
market
b)
command
c)
communist
d)
traditional
2.
Most countries in Africa practice what type of economy?
a)
traditional
b)
market
c)
mixed
d)
command
3.
When a country taxes products coming into the country, this is called what?
a)
quota
b)
embargo
c)
export
d)
tariff
4.
The type of money used in a specific country is called?
a)
currency
b)
capital
c)
exchange rate
d)
tariff
5.
Gross domestic product (GDP) is
a)
the number of working age people in a country.
b)
the total value of goods and services a country produces in a year.
c)
the number of products that the industries produces in a year.
d)
the average salary that a person earns in a year.
6.
An example of investing in human capital is which of these?
a)
a mother collecting fire wood
b)
a teenager learning a specific skill
c)
a boy taking the cattle to graze
d)
a child working on the coffee plantation
7.
Which of these is NOT an example of capital?
a)
factories
b)
subsistence farming
c)
technology
d)
machinery
8.
A ban or restriction of commerce with another country is called?
a)
export
b)
embargo
c)
tariff
d)
command
9.
A person who starts a business making handbags is called?
a)
economist
b)
importer
c)
industrialist
d)
entrepreneur
10.
Any policy that gets in the way of free trade is called
a)
trade barrier
b)
embargo
c)
tariff
d)
quota
11.
A limit on the amount of goods purchased from a country is called
a)
tariff
b)
quota
c)
embargo
d)
trade barrier
12.
When a country is known for a particular product or resource this is called
a)
importing
b)
exporting
c)
specializing
d)
economizing
13.
When the government controls of the goods produced by a company, this is an example of which economic system?
a)
command
b)
market
c)
mixed
d)
traditional
14.
A combination of a market and command economy is called
a)
traditional
b)
major market
c)
little command
d)
mixed
15.
Economic decisions that are made by entrepreneurs is what type of economy?
a)
market
b)
traditional
c)
command
d)
communist
16.
The producers answer the basic economic questions is which type of economy?
a)
command
b)
communist
c)
market
d)
embargo
17.
What are South Africa's MAIN exports
a)
gold, diamonds, platinum, other metals and minerals, machinery and equipment
b)
oil
c)
cows
d)
Star Wars Memorabilia
18.
The legal seperation of races in South Africa is ____________
a)
Segregation
b)
Slavery
c)
Apartheid
19.
Gross Domestic Product
is a measure of the total value of all.....
is a measure of the total value of all.....
a)
Consumer income in an economy over a period of time
b)
Capital accumulation in an economy over a period of time.
c)
Sales in an economy over a period of time.
d)
The goods and services produced in an economy over a period of time
20.
Why is a system of currency exchange necessary for international trade?
a)
The people buying goods want to be paid in gold and silver
b)
To pay for goods purchased from different countries
c)
All currencies are worthless on the world market
d)
Most goods must be paid in US dollars
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