Economics of Africa Test
Authored by Nancy Probst
Other Sciences, Other
7th Grade
Used 165+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a traditional economy how are economic decisions made?
custom and habit
government leaders
consumers and planners
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command economy how are economic decisions made?
custom and habit
government leaders
consumers and planners
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a market economy how are economic decisions made?
custom and habit
government leaders
consumers and the market
individuals starting new businesses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who takes on the risk in starting a new business in a market economy?
consumers
government planners
individual business people
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do most economies in the world today operate between a market economy and a command economy?
Government control always makes a market economy profitable
most economies have found they need a mix of free market and some government control to be successful and protect consumers
most consumers prefer government control to a free market economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How could the economies of South Africa and Nigeria be best described?
mixed
market
traditional
command
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a concern for the economy of South Africa?
Their GDP is lower than all the other countries.
The country has a high unemployment rate
There is not a market for their specialized product.
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