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WorksheetsAfrica Economics
Total questions: 31
Worksheet time: 18mins
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
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
What is South Africa’s main export
Oil
Textiles
Gold and diamonds
Agricultural products
Which country has the largest per capita GDP
Nigeria
South Africa
GDP information is not available
The GDPs are almost all the same.
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.
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.
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.
What are capital goods?
The workers who made the goods and services.
The factories and machines used it make goods
Money spent to train workers to use new technology
Money available for scholarships to graduate schools
Which Best describes income?
Money borrowed from a credit union.
Credit offered on the basis of a person’s salary
Money you earn working or get from investing
Taxes paid to the government based on annual salary
What is Nigeria’s main export?
Oil
Cotton
Fish
Textiles
What economic problem is South Africa currently facing?
High literacy rates
High unemployment rates
No trading partners
Too much government control
What is an example of a physical trade barrier in Africa?
Quota on Egyptian cotton sheets
Tariff on Nigerian oil
The Sahara desert
Embargo on South Africa
During Nigeria’s long period of military rule, what type of economic system did it have?
Traditional
Command
Market
Mixed
Which country has the strongest economy in Africa?
Nigeria
Botswana
South Africa
Sudan
Today, both South Africa and Nigeria have ___________ economic systems.
Traditional
Command
Market
Mixed
In which has South Africa specialized?
oil production
textiles
meat processing
gold and diamond mining
How has Nigeria’s concentration on oil production hurt the country’s economy?
Oil production has caused no problems.
All children have a free high school education.
Most Nigerians are wealthy because of oil production.
Agriculture has suffered and the country must import food.
If Sudan’s government puts a limit on how much Nigerian oil it will import this year, what trade barrier is this?
Embargo
Tariff
Quota
Opportunity Cost
Tribes in Kenya use bartering to trade and practice which type of economy?
Traditional
Command
Market
Mixed
Which African country has the highest Gross Domestic Product (GDP)?
Congo
South Africa
South Sudan
Ghana
In which area has Nigeria invested heavily in capital goods?
education
agriculture
communications technology
oil production
