Unit 8 Review

What can you conclude about the location of economy X?

• the producers & consumers answers ALL the economic questions

• there is a mixture of government and consumer decisions

• in this economy people barter

• the government answers ALL the economic questions

Based on the map and the information in the box, what conclusion can be drawn?

• Natural resources are best utilized by command economies

• Natural resources play a key role in economic development.

• Natural resources allow countries to isolate themselves from trade

• Natural resources provide all people with a high standard of living.

Which population has the LOWEST human capital?

• Egypt

• Nigeria

• South Africa

• Sudan

Nigeria and its neighbor Cameroon disagree over which country should control the Bakassi region. To pressure Cameroon, the Nigerian government decides to ban the sale of oil to Cameroon. What is this an example of?

• embargo

• tariff

• subsidy

• quota

A tourist from South Africa is visiting Nairobi, Kenya. What would the tourist have likely done before traveling?

• exchange her shillings for naira

• exchange her naira for ran

• exchange her rand for shillings

• exchange her naira for shillings

What does South Africa specialize in producing?

• manufactured goods

• energy resources

• precious metals

• food products

What is the official currency of Kenya?

• the shilling

• the renminbi

• the rand

• the naira

What is the official currency of Nigeria

• the naira

• the rand

• the renminbi

• the shilling

Which of the following barriers to trade would help a government raise revenue?

• embargoing all goods from another country

• imposing a quota on certain types of goods

• imposing a tariff on imported goods

• embargoing trade in certain types of goods

What is a capital investment that would MOST benefit South Africa's economy

• industrial gold-mining equipment

• industrial oil-drilling equipment

• adult literacy programs

• universal higher education