Decentralized decision making.· Adjusts to changes in the market place.· Producers and consumers have control of the economy. All of these are characteristics of a ___ economy.

Which question is MOST LIKELY a fundamental economic question?

Which of these is a correct description of one of the ways in which a command economy differs from a market economy?

In a traditional economy, the decision to make (or not make) certain products is decided MOSTLY by

This African nation is a major world supplier of gold, diamonds, and platinum. 2. Agriculture only makes up 3.4% of this nation's GDP, and most of that farming is commercial. 3. This nation is a member of the World Trade Organization, and its major t

What happens to the price of oil when OPEC countries decide to limit production?

The South African economy can BEST be described as a

What is one explanation for Nigeria to have a mixed economy with strong command economy elements?

Producers and consumers own the factors of production Custom and habit answer the question of who, what and how to produce Outside trade and commerce is discouraged Roles within the community are defined by custom and gender What type of economic sys

In Nigeria, people can open their own businesses, choose their careers and job paths, and can purchase a wide array of consumer goods. However, the national government institutes tariffs on imported goods, has a significant share in the oil industry,

Imposing some sort of cost on trade that raises the price of the traded products is MOST LIKELY an example of

Which statement BEST reflects the difference between tariffs and quotas?

One of the major priorities for the African Union, in its effort to unite the nations of Africa economically, is to create a(n) ________________ for use by the 53 member nations.

One of the main economic goals of the African Union is to

How might specialization encourage trade?

International trade is the exchange of goods and services between countries. This sometimes involves the use of quotas. What is a quota?

Which example might work to limit trade between countries?

Which is an example of specialization?

Which of these is TRUE about specialization in an economy?

Embargoes Quotas Subsidies Tariffs Which would be a good title for this list?

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