Economies of Nigeria and South Africa 7th Grade Social Studies

SS7E1 SS7E1: The student will analyze different economic systems

SS7E1c SS7E1c Compare and contrast the economic systems in South Africa and Nigeria

South Africa (1) Mixed Economy Close to a pure market economy (similar to developed countries) Mixture of private and government-owned businesses

South Africa (2) Economy is based on Mining Agriculture Providing services manufacturing

South Africa (3) Both the government and the individual citizens have tried to provide services for everyone since the end of apartheid Large disparity of money between races

Nigeria (1) Mixed Economy Closer to the pure market side of the continuum Is currently moving to the far right side of the continuum Mixture of pure and government owned businesses

Nigeria (2) Economy is based on: Petroleum Agriculture

Nigeria (3) Ineffective governments over the past few years have affected the country’s growth High tariffs and high inflation rate have stalled development