Economic Systems of Africa

What economic system would this statement BEST fit? Economics activities are usually centered towards the family, tribe, or ethnic group.

• Command

• Mixed

• Market

• Traditional

What economic system BEST fits this statement: Economic decisions are made by individuals competing to earn profits based on supply and demand.

• Command

• Traditional

• Market

• Mixed

What economic system BEST fits this statement: Individuals have little, if any , influence over economic functions.

• Traditional

• Command

• Mixed

• Market

What economic system BEST fits this statement: Also called a capitalist or laissez faire economy.

• Mixed

• Traditional

• Command

• Market

What economic system BEST fits this statement: Resources are owned by individuals with some government regulation.

• Mixed

• Command

• Traditional

• Market

__________________ is the banking, transportation, and communication hub of East Africa

• South Africa

• Nigeria

• Kenya

• All of the above

________________ economy is still feeling effects of apartheid, poverty, crime, and unemployment.

• Kenya

• Nigeria

• South Africa

• None of the above

Which of the following have a mixed economy?

• Kenya

• South Africa

• Nigeria

• All of the above

South African economic policy is conservative focusing on controlling inflation, maintaining a budget surplus, and using state-owned enterprises to deliver basic services to low-income areas as a means to increase job growth and household income. However companies are free to choose what to produce, how to produce, and for whom to produce. Where does this policy place South Africa on a continuum between pure market and pure command?

• Almost pure traditional
• Pure market
• More market than command
• Pure Command

Which statement would a researcher use to prove South Africa is more related to a market economy than a command economy?

• Much of South Africa's GDP comes from private industries that freely compete in the world market
• Due to the effects of Apartheid, the government in South Africa runs many social programs
• Education and healthcare are primarily dominated by the government in South Africa
• Businesses are legally required to pay taxes to the government in South Africa