1. 1 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt Economic Vocabulary Economic Vocabulary 2 South Africa’s Economy Other African Countries Misc.

2. 2 A limit placed on imported goods

3. 3 What is a quota?

4. 4 The factories, machines and other goods used to produce things

5. 5 What are Capital Goods?

6. 6 These are the goods and services that are sold to other countries

7. 7 What are Exports?

8. 8 The total value of goods and services produced by a country in one year

9. 9 What is Gross Domestic Product (GDP)?

10. 10 A decision to prevent (not allow) certain goods from being imported at all

11. 11 What is an Embargo?

12. 12 GDP divided by the average population in a country

13. 13 What is GDP per capita?

14. 14 Tax placed on imported goods

15. 15 What is a Tariff?

16. 16 The knowledge, skills, and training provided to the workforce

17. 17 What is Human Capital?

18. 18 One who brings together land, labor, capital goods and time to produce goods and services

19. 19 What is an Entrepreneur?

20. 20 The facilities and systems serving a country, city or area such as transportation, power plants, and schools

21. 21 What is Infrastructure?

22. 22 With regards to its mining industry, South Africa invested heavily in

23. 23 What are Capital Goods?

24. 24 South Africa’s main exports

25. 25 What are Gold and Diamonds?

26. 26 South African gold profits have been used to build

27. 27 What are infrastructure and transportation systems?

28. 28 South Africa’s economy may slow down due to this, which is at 24%

29. 29 What is Unemployment?

30. 30 A technologically advanced market economy with government control. This is an example of what type of economy

31. 31 What is Mixed?

32. 32 When Nigeria was under military rule, its economy was more

33. 33 What is Command?

34. 34 The people of this country remain poor, despite being the 6 th largest Oil producer

35. 35 What is Nigeria?

36. 36 An alternative to fossil fuels, most African countries would not benefit from this

37. 37 What is Uranium?

38. 38 Profits from diamonds have been used by rebels in Sierra Leone and D.R.C. to

39. 39 What is finance weapons?

40. 40 By providing training opportunities and resources for teachers, Kenya is investing in

41. 41 What is Human Capital?

42. 42 Countries that have some Government Planning and Market characteristics in their economy

43. 43 What is a Mixed Economy?

44. 44 Not investing in Human Capital will effect a countries GDP by

45. 45 What is lowering it?

46. 46 This prevents economics from negatively impacting a country’s development

47. 47 What is Government Stability?

48. 48 Worldwide interest in sources of clean energy from mining this natural resource

49. 49 What is Uranium?

50. 50 In Nigeria, much of the Oil profits went to politicians, instead of the citizens

51. 51 What is Corruption?