Economics of Africa
Flashcard
•
Social Studies
•
7th Grade
•
Hard
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22 questions
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1.
FLASHCARD QUESTION
Front
Why are most economies referred to as “mixed economies”?
Back
Most countries have aspects of both market and command economies.
2.
FLASHCARD QUESTION
Front
Which of the following is NOT one of the basic questions that all economic systems must answer: What to produce? How to produce? How much to produce? For whom to produce?
Back
How much to produce?
3.
FLASHCARD QUESTION
Front
Tribes in Kenya use bartering to trade and practice which type of economy?
Back
Traditional
4.
FLASHCARD QUESTION
Front
The economies of South Africa, Nigeria, and Kenya can be best described as:
Back
Mixed.
5.
FLASHCARD QUESTION
Front
Which African economy has the most free (from government control) mixed economy? Options: Kenya, Nigeria, South Africa, All of the above
Back
South Africa
6.
FLASHCARD QUESTION
Front
Which of the following would reflect Kenya’s mixed economy? Prices and wages are solely regulated by the country’s government. A combination of privately-owned businesses and government regulations. The country’s distribution of resources is based on inheritance. All economic decisions are based on customs and beliefs of ancestors.
Back
A combination of privately-owned businesses and government regulations.
7.
FLASHCARD QUESTION
Front
Which characteristic BEST describes South Africa’s economy? Options: Market-leaning, Traditional, Command-leaning, Pure market
Back
Market-leaning
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