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WorksheetsAfrica Specialization + Trade Barriers
Total questions: 16
Worksheet time: 9mins
Where does South Africa fall on our economic continuum?
Trade Barriers are set up to protect...
Domestic jobs from Foreign competition
Foreign jobs from Domestic competition
Nigeria applies a 10% price increase to all Saudi Arabian oil to protect their domestic businesses. This is a...
Tariff
Quota
Embargo
Specialization makes products...
Efficiently
Inefficiently
Which of the following would INCREASE GDP per Capita?
Investment in Human Capital
Investment in Capital Goods
Natural Resources
Entrepreneurs
Nigeria, Kenya and South Africa are...
Mixed Market
Mixed Command
Pure Market
Pure Command
Why do countries Exchange Currency?
They do not have the same currency so they need to know the value of what they're spending.
To make more money.
They only use the United States Dollar to trade and do business.
A country focuses on government, state owned businesses but does allow some entrepreneurship with heavy government regulations. They are most likely..
Pure Command
Pure Market
Mixed Command Leaning
Mixed Market Leaning
Because most countries are mixed...
Some businesses can be government owned.
No businesses can be government owned.
All businesses are owned by the government.
In a traditional economy...
The government picks your job.
Entrepreneurs may create their own businesses.
Jobs are inherited from ancestors based from customs.
Which economic system does NOT use currency?
Traditional
Market
Command
Mixed
Nigeria specializes in...
Agriculture + Tourism
Oil and Fossil Fuels
Precious Metals and Minerals
Which country would have the most regulations and government owned businesses?
Kenya (54% Market)
Nigeria (58% Market)
South Africa (59% Market)
United States (74% Market)
Education, Skills Experience and Healthcare (yes, Healthcare! Everyone forgets this one :/)
Human Capital
Capital Goods
South Africa constructs new roads and supplies new towns with water and electricity. They are investing in..
Infrastructure
Human Capital
Entrepreneurship
Natural Resources
South Africa's president wants to help protect Domestic jobs. He would..
Adds tariffs against countries that produces the same goods as South Africa.
Removes tariffs against countries that produces the same goods as South Africa.
