Africa Economy

Georgia Performance Standards SS7E1 The student will analyze different economic systems. a. Compare how traditional, command, and market economies answer the economic questions of (1) what to produce, (2) how to produce, and (3) for whom to produce. b. Explain how most countries have a mixed economy located on a continuum between pure market and pure command. c. Compare and contrast the economic systems in South Africa and Nigeria. Literacy rates

Review-Types of economies 1.Which economic system do you think consumers like the most? Traditional, Command, or Market 2.Which economic system would be the worst for competition between producers? T, C, or Ma 3.In a market economy, who owns property and resources? Tribes, government, or private 4.Which economic system is found in simple agricultural societies? T, C, or Ma 5.What is the most common economic system today? 6.Explain how the US is a mixed economy. (What are the traditional, command, and market elements?)

Copy and Fill in this chart South AfricaNigeria Type of economy- now and in the past 2 lines Goods produced 3 lines Goods exported 2 lines GDP per capita 1 line Labor Force 2 lines Unemployment Rate 1 line Literacy Rate 1 line

Economic System of South Africa Currently, the strongest economy in sub-Saharan Africa Several decades ago, it was totally a command economy, but government has allowed citizens to take over industries they previously controlled. Government still operates some oil and gas companies, the post office and some of the telecommunications network. Healthcare is both public and private S.A. is still struggling for racial equality after years of apartheid (racial segregation) There is still a big difference in income and education between blacks and whites

Economic System of South Africa South Africa produces minerals (gold, diamonds, platinum, and others), car assembly, machinery, textiles, iron and steel, fertilizers South Africa exports minerals, as well as machinery and equipment GDP per capita is $9,800 Labor Force is divided this way: Agriculture: 9%,Industry: 26%,Services: 65% What are some examples of industry and service jobs? What is required for most service jobs? Unemployment Rate is 24%, why do you think it might be so high?

Economic System of Nigeria Nigeria is now one of the poorest nations in the world, why?? 1. In the 1970’s, it was one of the 50 richest because of oil, but money was spent carelessly by the government (led by cruel dictators, poorly organized, lots of corruption). 2. More than half of the people are farmers. (What do we know about economies in the countries that rely on farming?) Before the oil boom, Nigeria used to export surplus crops, but now must import much of their food

Economic System of Nigeria Nigeria produces oil and petrochemicals and only subsistence farming now Nigeria’s main exports are oil and petrochemicals GDP per capita is $2000-why?? Labor force is divided this way: Agriculture: 17%, industry: 52%, services: 30% Unemployment rate: 4.9%, why is it lower than S.A.? Anyone that can afford it, sends their kids to private schools because public education is not a top priority, what other country does that sound like?

Literacy Rates in Africa Literacy rate in Africa is 50% Literacy is good for individuals as well as their communities More developed countries tend to have a higher literacy rate Nigeria’s literacy rate is 68% South Africa, the most developed country in Africa, has a literacy rate of 86%

Assignment 1: Copy down the listed countries. Using the African Resources map, identify what kinds of resources they have: diamonds, gold, uranium, oil…? Countries: South Africa, Namibia, DRC, Ghana, Angola, Nigeria Next, number these countries in the order of their GDP based on how many natural resources they have. 1- highest, and so forth

So what do you think? SA (D, G, U) Nigeria ANGOLA (D,O) GHANA (D,G) DRC (D,G) NAMIBIA (D,U)

Review- On same page, as resource list: 1.What is South Africa’s main export? 2.What is Nigeria’s main export? 3.Which country has the higher GDP per capita? 4.Why was Nigeria’s economy considered command in the 1970’s? 5.What is South Africa’s biggest economic concern? 6.What is Nigeria’s biggest economic concern?

Assignment 2: Gallopade (Yellow) book pages 37-40—put on p Gallopade (Yellow) book pages index-of-economic-freedom-africa- still-rising/