WorksheetsForms of Government in South Africa
Total questions: 27
Worksheet time: 18mins
How are the economic questions answered in a Traditional Economy?
An economy based on custom and tradition.
An economy that relies on government officials.
Individuals answer the three basic economic questions.
How are the economic questions answered in a Command Economy?
An economy based on custom and tradition.
An economy that relies on government officials.
Individuals answer the three basic economic questions.
How are the economic questions answered in a Market Economy?
An economy based on custom and tradition.
An economy that relies on government officials.
Individuals answer the three basic economic questions.
Why do all countries have a mixed economic system located on a continuum between pure market and command economies?
A mixed economy is a mix of traditional customs and central planning. Many countries utilize this type of economic system since it gives a reminder of our past to their economy. This gives a boost to (SOL.)
A mixed economy is a mix of free-market and central planning. Many countries utilize this type of economic system since it gives a balance to their economy. This gives a boost to (SOL.)
A mixed economy is a mix of free-market and central planning. Many countries utilize this type of economic system since it gives a balance to their economy. This decreases (SOL.)
What is an Embargo?
An embargo is a tax imposed by a government of a country or of a supranational union on imports or exports of goods. It's also known to be a source of income or revenue for the government to benefit our economy and raise our GDP and (SOL.)
An embargo is a government order that restricts commerce with a specified country or the exchange of specific goods. Or in other words, a ban on trade.
An embargo is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period.
What is a Quota?
A quota is a tax imposed by a government of a country or of a supranational union on imports or exports of goods. It's also known to be a source of income or revenue for the government to benefit our economy and raise our GDP and (SOL.)
According to the question above, a quota is known to be a government order that restricts commerce with a specified country or the exchange of specific goods. Or in other words, a ban on trade.
A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period.
What is a Tariff?
A tariff is a tax imposed by a government of a country or of a supranational union on imports or exports of goods. It's also known to be a source of income or revenue for the government to benefit our economy and raise our GDP and (SOL.)
According to the question above, a tariff is known to be a government order that restricts commerce with a specified country or the exchange of specific goods. Or in other words, a ban on trade.
A tariff is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period.
What trade barrier could a government use to help keep local industry jobs and keep product prices high?
Embargo
Tariff
Quota
In the 1980s, several countries, including the United States, imposed trade embargoes against South Africa because of...
The Africans bombed Pearl Harbor causing conflict between South Africa and the U.S. and tensions continued until the U.S. decided to place an embargo on South Africa.
To force South Africa into economic isolation and catalyze a popular movement toward overthrowing the Castro government. It is the longest-enduring trade embargo in history.
The mounting frustration with the persistence of apartheid, coupled with South Africa’s apparent economic vulnerability, prompted a round of multilateral economic sanctions.
How does Nigeria's economy differ from South Africa?
Nigeria specializes more in oil.
Nigeria specializes more in gold.
South Africa specializes more in gold.
South Africa specializes more in oil.
How has oil affected African countries and their development?
It has increased their GDP.
It has decreased their GDP.
Their GDP stayed the same.
Diamonds have impacted the countries where they are found by raising their GDP but also intensifying civil wars by financing militaries and rebel militias. Violence still plagues many diamond mines in Africa, with armed groups using force to seize or control diamond wealth.
True
False
How does an increase in literacy rate impact the developing nations in Africa?
It decreases the GDP per capita.
It raises the Standard of Living.
It raises GDP per capita.
It decreases the Standard of Living.
What are the three economics questions? (Please spell correctly)
(a)
What is Specialization?
Specialization occurs because one country enjoys a comparative advantage in the production of a certain good or service, specifically if the opportunity cost of producing that good or service is lower for that country than any other country.
Specialization means when an individual decides to create a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as specturship.
Specialization in economics can help organizations and individuals understand effective strategies for production and commerce. This gives countries an advantage in trade and boosts their economies.
What is Entrepreneurship?
Entrepreneurship occurs because one country enjoys a comparative advantage in the production of a certain good or service, specifically if the opportunity cost of producing that good or service is lower for that country than any other country.
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship.
Entrepreneurship in economics can help organizations and individuals understand effective strategies for production and commerce. This gives countries an advantage in trade and boosts their economies.
What is International Trade (IT)?
(IT) occurs because one country enjoys a comparative advantage in the production of a certain good or service, specifically if the opportunity cost of producing that good or service is lower for that country than any other country.
(IT) means when an individual decides to create a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as intrepreneurship.
(IT) in economics can help organizations and individuals understand effective strategies for production and commerce. This gives countries an advantage in trade and boosts their economies.
Why does international trade require a system for exchanging currency between nations?
Because lots of countries have different types of currencies.
Because lots of countries have similar types of currencies.
The distribution of natural resources affects the economic development of Africa since many resources are unequally distributed throughout Africa. For example, in Nigeria, there are few natural resources and they become poorer because of that. Its economic development isn’t very good if they only have a few natural resources. They have to heavily depend on oil and natural gas to raise their economy.
True
False
Explain the relationship between investment in human capital (education and training) and capital goods (factories, machinery, and technology) and gross domestic product (GDP per capita.)
They all raise GDP.
They all raise Human Capital.
They all raise Capital Goods.
They all raise literacy rate.
Opportunity cost is the cost of making one decision over another. This cost is not only financial, but also in time, effort, and utility. For example, If you want to accept a job that pays $35,000 per year and leave your current job that pays $32,000 annually, the opportunity cost shows that you would lose $3,000 if you stay at your current job.
True
False
What is the difference in how the president is chosen in Kenya and South Africa?
In Kenya, individuals vote for both the Legislature and the President.
In South Africa, individuals vote for both the Legislature and the President.
In Kenya, individuals vote for the Legislature and the Legislature selects the President.
In South Africa, individuals vote for the Legislature and the Legislature selects the President.
How has a lack of government stability impacted African countries?
Government instability is a major issue that has kept African nations from improving their citizens’ standard of living.
Civil wars, military coups, and revolutions have caused power to change hands many times. When a country’s government is unstable, it cannot meet the needs of its people.
Government instability is major support that has allowed African nations to improve their citizens’ standard of living.
Memorize the Economic Continuum of Kenya, Nigeria, and South Africa. Type anything into the box once you memorized the picture.
A major leader of the ANC who was imprisoned before becoming elected as president of South Africa.
Nelson Mandela
F.W. de Klerk
Jomo Kenyatta
Martin Luther King
The president of South Africa who began lifting racial segregation.
Nelson Mandela
F.W. de Klerk
Jomo Kenyatta
Martin Luther King
The end of Apartheid led to South Africa’s democratic government.
True
False
