Global Trade and Its Impact on the South African Economy

Global Trade and Its Impact on the South African Economy

Assessment

Flashcard

Other

12th Grade

Hard

Created by

Logan Johnston

FREE Resource

Student preview

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10 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is Global Trade?

Back

Global trade is the buying and selling of goods and services between countries.

2.

FLASHCARD QUESTION

Front

What are Tariffs?

Back

Tariffs are taxes placed on imported goods.

3.

FLASHCARD QUESTION

Front

How do high tariffs affect imports?

Back

If a country adds high tariffs, it becomes more expensive to import those goods.

4.

FLASHCARD QUESTION

Front

What is one effect of increased tariffs on imported goods in South Africa?

Back

Higher prices for imported goods.

5.

FLASHCARD QUESTION

Front

How can tariffs affect South African exports?

Back

If other countries place tariffs on South African goods, it becomes harder for South Africa to sell products overseas.

6.

FLASHCARD QUESTION

Front

What can cause currency fluctuations that affect the Rand exchange rate?

Back

Economic changes globally, such as war, inflation, or oil prices.

7.

FLASHCARD QUESTION

Front

How can rising food costs impact households?

Back

Households will pay more for groceries if imported food or farming materials get more expensive.

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