Unit 8: Africa

18 Questions | Total Attempts: 284

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Africa Quizzes & Trivia

This quiz is to assess student knowledge of the different types of economic systems that exist globally & Africa. Students will examine how government plays a vital role in determining the type of economic systems in place and what factors influence/impede economic growth.


Questions and Answers
  • 1. 
    New technology, factories, and machinery are all 
    • A. 

      Human Capital

    • B. 

      Natural Resources

    • C. 

      Capital Goods

    • D. 

      Economic Systems

  • 2. 
    An entrepreneur is
    • A. 

      A head of state in control of resources

    • B. 

      A dictator

    • C. 

      Person in charge of international trade

    • D. 

      Person who takes risks by starting a new business

  • 3. 
    All of the following are examples of a market economy EXCEPT
    • A. 

      Anyone can start a business if they want to

    • B. 

      Companies control their own production

    • C. 

      Supply and demand determine prices

    • D. 

      The state owns all farms, but farmers can rent the land

  • 4. 
    Diamonds are one of Africa's natureal resources. What is another natural African resource?
    • A. 

      Oil

    • B. 

      Tobacco

    • C. 

      Spices

    • D. 

      Chocolate

  • 5. 
    Why was Egypt so important to the overall African economy in the past?
    • A. 

      It had vast oil reserves

    • B. 

      Egypt had a large military

    • C. 

      There were no tariffs in that region

    • D. 

      Egypt had access to various trade routes

  • 6. 
    Which term in NOT an example of income? 
    • A. 

      Compounding interest

    • B. 

      Salary

    • C. 

      Return on Investment

    • D. 

      Credit

  • 7. 
    A trade barrier is anything that makes trade more difficult. Which is Not a trade barrier?
    • A. 

      Tariff

    • B. 

      Embargo

    • C. 

      Capital

    • D. 

      Quota

  • 8. 
    An exchange rate is the price that one country's currency has compared to another country's currency. Which is Not a benefit of exchange rates? 
    • A. 

      Without it, global trade would be impossible

    • B. 

      Exchange rates change daily

    • C. 

      Based upon govenment stability & market strength

    • D. 

      Has no influence on buying or selling

  • 9. 
    All of the following are examples of natural trade barriers EXCEPT
    • A. 

      Mountains

    • B. 

      Deserts

    • C. 

      Rivers

    • D. 

      Rainforests

  • 10. 
    Which of the following BEST describes the purpose of making a budget?
    • A. 

      Spending money on luxuries

    • B. 

      Saving money so that retirement is possible

    • C. 

      Creating credit card debt

    • D. 

      Investing in stocks

  • 11. 
    All of the following are examples of entrepreneurs EXCEPT
    • A. 

      A restaurant owner

    • B. 

      A concert promoter

    • C. 

      A military general

    • D. 

      A child with a lemonade stand

  • 12. 
    All of the following are types of economic systems except
    • A. 

      Traditional Economy

    • B. 

      Command Economy

    • C. 

      Market Economy

    • D. 

      Voluntary Economy

  • 13. 
    Subsistence Farming includes all of the following features EXCEPT
    • A. 

      Done for Profit-Such as cash crops

    • B. 

      Grow food to feed the household

    • C. 

      Done for Need

    • D. 

      Make use of irrigation methods for watering

  • 14. 
    Economic Systems answer all  the following questions EXCEPT
    • A. 

      What is produced?

    • B. 

      Who gets what is produced?

    • C. 

      Where will it be produced?

    • D. 

      Who should produce it?

  • 15. 
    Economics is the study of
    • A. 

      People

    • B. 

      How people manage their resources

    • C. 

      The stock market

    • D. 

      How money is invested

  • 16. 
    There are several branches of the government which include all except
    • A. 

      Executive

    • B. 

      Judicial

    • C. 

      Legislative

    • D. 

      Monarchial

  • 17. 
    Imports and exports are all apart  of:
    • A. 

      International Trade

    • B. 

      Embargo

    • C. 

      Foreign Exchange

    • D. 

      Human Capital

  • 18. 
    Economic Organizations iwho work together to improve the financial conditions in Africa include all of the following EXCEPT:
    • A. 

      ECOWAS-Economic Community of West African States

    • B. 

      OPEC-Organization of Petroleum Exporting Countries

    • C. 

      NAFTA-North American Free Trade Agreement

    • D. 

      SADC-South African Development Community