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Africa Economics
Test Description: Africa economics
Instructions: Answer all questions to get your test result.
1) Which question is MOST LIKELY a fundamental economic question?
A
how much minimum wage will be
B
how much the global gdp of the world's most awesome economic systems is
C
who will get the goods and services produced
D
who will provide the goods and services
2) Which statement describes one advantage of a market economy?
A
The government owns the productive resources
B
A large bureaucracy is required to make economic decisions
C
Nonproductive resources are rewarded.
D
A high degree of individual freedom is offered.
3) This African nation is a major world supplier of gold, diamonds, and platinum.
A
sudan
B
south africa
C
egypt
D
kenya
4) Which statement BEST reflects the difference between tariffs and quotas?
A
Tariffs raise prices on imports, while quotas set limits on exports.
B
Tariffs raise prices on exports, while quotas set limits on imports.
C
Tariffs raise prices on imports, while quotas set limits on imports.
D
Tariffs raise prices on exports, while quotas set limits on exports.
5) 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
sanction
B
embargo
C
tariff
D
quota
6) 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 stop using products from other nations to support their own economies.
C
One nation will sell its specialty to others ONLY if they don't compete.
D
Nations agree to work together as a team to make it easier for them to manufacture expensive items
7) how awesome are you?
A
super awesome
B
i dont care
C
umm
D
i dont know
8) how cool am i?
A
super cool
B
i dont care
C
i dont know
D
umm
9) your teacher is...
A
awesome
B
i dont care
C
umm
D
i dont know
10) this school is...
A
umm
B
super awesome
C
i dont know
D
i dont care
*select an answer for all questions
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