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How does Nigeria's high amount of oil production affect its economy?
specialization
It makes the GDP more dependent on oil production.
a mixture of private and government-owned businesses
gold, diamonds, and uranium
a system for exchanging currencies
human capital
petroleum
command economy
Which major industry is the GDP of Nigeria dependent upon?
specialization
It makes the GDP more dependent on oil production.
a mixture of private and government-owned businesses
gold, diamonds, and uranium
a system for exchanging currencies
human capital
petroleum
command economy
The government makes all economic decisions in a:
specialization
It makes the GDP more dependent on oil production.
a mixture of private and government-owned businesses
gold, diamonds, and uranium
a system for exchanging currencies
human capital
petroleum
command economy
The money spent to train and educate citizens to use new technology is called:
specialization
It makes the GDP more dependent on oil production.
a mixture of private and government-owned businesses
gold, diamonds, and uranium
a system for exchanging currencies
human capital
petroleum
command economy
Nigeria makes almost all of its money from the sale of oil. This is an example of:
specialization
It makes the GDP more dependent on oil production.
a mixture of private and government-owned businesses
gold, diamonds, and uranium
a system for exchanging currencies
human capital
petroleum
command economy
Although South Africa has a diverse economy, the country benefits from having large quantities of:
specialization
It makes the GDP more dependent on oil production.
a mixture of private and government-owned businesses
gold, diamonds, and uranium
a system for exchanging currencies
human capital
petroleum
command economy
The best description of South Africa’s economy today is:
specialization
It makes the GDP more dependent on oil production.
a mixture of private and government-owned businesses
gold, diamonds, and uranium
a system for exchanging currencies
human capital
petroleum
command economy
Which of these must be present for international trade to be successful?
specialization
It makes the GDP more dependent on oil production.
a mixture of private and government-owned businesses
gold, diamonds, and uranium
a system for exchanging currencies
human capital
petroleum
command economy
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