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Africa Economics Review
Test Description: ;ljadsjf
Instructions: Answer all questions to get your test result.
1) Which of these is a correct description of one of the ways in which a command economy differs from a market economy?
A
there are no people
B
there are only monkeys
C
people have more freedom
D
people have less freedom
2) This African nation is a major world supplier of gold, diamonds, and platinum.
A
nigeria
B
south africa
C
sudan
D
kenya
3) This African nation is economically dependent on oil production, although energy revenues only benefit 1% of the population.
A
south africa
B
kenya
C
sudan
D
nigeria
4) Which statement BEST reflects the difference between tariffs and quotas?
A
tariffs tax imports and quotas stop trade
B
tariffs tax imports and quotas limit imports
C
tariffs limit imports and quotas tax imports
D
tariffs stop trade and quotas limit trade
5) How might specialization encourage trade?
A
countries hate each other
B
countries work as a team
C
countries give each other a giant hug
D
countries date each other
6) Why would a country place a quota on imports?
A
to stop all trade
B
to spend more money
C
to protect the local economy
D
to encourage foreign goods
7) 20) In economics, often a nation has one product or industry that becomes better developed than other products or industries. Over time, that nation may become known for being a reliable producer in that industry. This is passage is describing
A
currency exchange
B
command
C
specialization
D
embargo
8) Trade between countries can be an indicator of the strength of the country’s economy, standard of living, and literacy rate. This is an example of
A
international trade
B
domestic trade
C
local trade
D
lunch room food trade
9) Which of the following best describes GDP
A
value of all goods and services produced in a country in a year
B
value of all goods and services produced in a country in a century
C
orange trees and banana fruits
D
value of all goods on a continent in a decade
10) Renovating factories, updating heavy machinery, and constructing new industrial centers in Sudan are all examples of
A
investing in human capital
B
mr jones has the swag i wish i had
C
investing in capital goods
D
specializing in increasing gdp
11) why are most countries mixed?
A
most are autocratic
B
most are specialization
C
most are also traditional
D
most have aspects of both market and command
12) how has nigeria's decision to not invest in capital goods affected the countries citizens?
A
nigerians are left without proper food...
B
it brings trade barriers
C
it helps their gdp
D
it makes them have civil war
13) has a prime minister
A
autocratic
B
presidential
C
parliamentary
D
oligarchic
14) whcih are of africa probably is most affected by famine?
A
south africa
B
kenya
C
madaguascar
D
north africa
15) in south africa its easy to start a business...
A
entrepreneurs specialize in making ketchup
B
entrepreneurs hurt the gdp
C
entrepreneurs can make significant contributions to the gdp
D
entrepreneurs make trade barriers
16) the process of designing, launching, and running a new business
A
trade barriers
B
human capital
C
entrepreneurship
D
specialization
17) many countries and groups around the world want to reduce famine in africa, however what makes this difficult?
A
aids
B
democracy
C
famine
D
government instability
18) if south africa has a high literacy rate and sudan has a low lit rate, which country is going to probably have the higher standard of living?
A
kenya
B
south africa
C
nigeria
D
sudan
19) single self appointed ruler
A
democratic
B
oligarchic
C
trade barrier
D
autocratic
20) the executive in a parliamentary is chosen by the
A
international community
B
people
C
citizens
D
legislature
*select an answer for all questions
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