Africa Economics: Question Preview (ID: 24445)


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Which question is MOST LIKELY a fundamental economic question?
a) who will get the goods and services produced b) who will provide the goods and services c) how much minimum wage will be d) how much the global gdp of the world's most awesome economic systems is
Which statement describes one advantage of a market economy?
a) A high degree of individual freedom is offered. b) A large bureaucracy is required to make economic decisions c) The government owns the productive resources d) Nonproductive resources are rewarded.
This African nation is a major world supplier of gold, diamonds, and platinum.
a) south africa b) kenya c) sudan d) egypt
Which statement BEST reflects the difference between tariffs and quotas?
a) Tariffs raise prices on imports, while quotas set limits on imports. b) Tariffs raise prices on exports, while quotas set limits on exports. c) Tariffs raise prices on imports, while quotas set limits on exports. d) Tariffs raise prices on exports, while quotas set limits on imports.
In 1987, the United Nations General Assembly passed a resolution that prohibited countries from buying oil from South Africa in an effort to persuade the nation to end the racist policies of apartheid. This is an example of a(n)
a) embargo b) tariff c) quota d) sanction
How might specialization encourage trade?
a) One nation will focus resources on its specialty, forcing it to buy other products from other nations. b) Nations agree to work together as a team to make it easier for them to manufacture expensive items c) Nations stop using products from other nations to support their own economies. d) One nation will sell its specialty to others ONLY if they don't compete.
how awesome are you?
a) super awesome b) umm c) i dont know d) i dont care
how cool am i?
a) super cool b) umm c) i dont know d) i dont care
your teacher is...
a) awesome b) umm c) i dont know d) i dont care
this school is...
a) super awesome b) umm c) i dont know d) i dont care
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