Africa's Economic Systems 25

Front

Based on South Africa's location on the economic continuum, it can best be described as: market-leaning, command-leaning, mostly traditional, In between market and command

Back

market-leaning

Front

Which economic system is being described below?

Back

Command

Front

Which statement accurately describes Kenya, Nigeria, and South Africa's economic system? Options: Pure Market, A mix of Market and Command, Pure Command, Mostly Traditional

Back

A mix of Market and Command

Front

Which country has the highest amount of government regulation? (The government that owns or regulates banking, mining, oil, and electricity.)

Back

The country at Letter B.

Front

Which country now has the largest economy in Africa because of its ability to export oil all over the world? (It is the largest producer of oil in Africa.)

Back

The country at Letter C.

Front

Nigeria is represented by which letter on the economic continuum below? Options: Letter A., Letter B., Letter C., None of the above

Back

Letter B.

Front

In rural African villages, bartering is used as a means of trading goods. What type of economic system is bartering typically found in?

Back

Traditional

Front

In a market economic system, decisions are made based on __________________.

Back

supply and demand (citizens & private companies)

Front

During Nigeria’s long period of military rule (dictatorship), what type of economic system did it have? Options: Market, Mixed, Command, Traditional

Back

Command

Front

Which of the following would reflect South Africa's mixed economy? 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., Prices and wages are mainly regulated by the country’s government.

Back

A combination of privately-owned businesses and government regulations.