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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
people have more freedom
B
there are no people
C
people have less freedom
D
there are only monkeys
2) This African nation is a major world supplier of gold, diamonds, and platinum.
A
south africa
B
kenya
C
nigeria
D
sudan
3) This African nation is economically dependent on oil production, although energy revenues only benefit 1% of the population.
A
sudan
B
south africa
C
kenya
D
nigeria
4) Which statement BEST reflects the difference between tariffs and quotas?
A
tariffs limit imports and quotas tax imports
B
tariffs stop trade and quotas limit trade
C
tariffs tax imports and quotas stop trade
D
tariffs tax imports and quotas limit imports
5) How might specialization encourage trade?
A
countries work as a team
B
countries date each other
C
countries give each other a giant hug
D
countries hate each other
6) Why would a country place a quota on imports?
A
to spend more money
B
to protect the local economy
C
to stop all trade
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
specialization
B
command
C
embargo
D
currency exchange
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
domestic trade
B
lunch room food trade
C
international trade
D
local trade
9) Which of the following best describes GDP
A
value of all goods on a continent in a decade
B
value of all goods and services produced in a country in a century
C
value of all goods and services produced in a country in a year
D
orange trees and banana fruits
10) Renovating factories, updating heavy machinery, and constructing new industrial centers in Sudan are all examples of
A
mr jones has the swag i wish i had
B
investing in capital goods
C
specializing in increasing gdp
D
investing in human capital
11) why are most countries mixed?
A
most are also traditional
B
most are autocratic
C
most are specialization
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
it makes them have civil war
B
it brings trade barriers
C
nigerians are left without proper food...
D
it helps their gdp
13) has a prime minister
A
parliamentary
B
presidential
C
oligarchic
D
autocratic
14) whcih are of africa probably is most affected by famine?
A
south africa
B
madaguascar
C
kenya
D
north africa
15) in south africa its easy to start a business...
A
entrepreneurs can make significant contributions to the gdp
B
entrepreneurs make trade barriers
C
entrepreneurs hurt the gdp
D
entrepreneurs specialize in making ketchup
16) the process of designing, launching, and running a new business
A
trade barriers
B
human capital
C
specialization
D
entrepreneurship
17) many countries and groups around the world want to reduce famine in africa, however what makes this difficult?
A
democracy
B
aids
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
sudan
B
nigeria
C
kenya
D
south africa
19) single self appointed ruler
A
democratic
B
oligarchic
C
autocratic
D
trade barrier
20) the executive in a parliamentary is chosen by the
A
legislature
B
citizens
C
international community
D
people
*select an answer for all questions
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