Countries
Where is South Africa
On the southern tip of Africa.
What is Kenya’s form of government?
Presidental Democracy
What is South Africa well known for producing?
Diamonds
Capitalism definition
A system of economics based on the private ownership of business and the products (goods and services) made and sold.
What are the main types of economic systems?
Traditional, Command, Market
How is the leader elected in South Africa?
The president is elected by the National Assembly, the lower house of Parliament, from among its members.
How are autocracies and democracies different?
Autocratic leadership is characterized by a leader who holds all decision-making authority and rarely seeks input from others. In contrast, democratic leadership involves sharing decision-making power and responsibilities with group members.
Nigeria is the producer of what?
Oil
Chain of production
The development and movement of goods and services through an economic system.
What is another word for Market Economy?
Capitalism
Who owns all businesses in a command economy?
the central government
How is the leader elected in Kenya?
The citizens directly elect the president
How did Kenya become the strongest economy in the region?
Agriculture, tourism, and manufacturing
Competitive advantage
The advantage one business has over another, generally due to lower production costs or a better product.
What is supply and demand?
Supply is the amount of a specific good or service that's available on the market, and demand is the amount of the good or service that customers want to buy.
True or False? In Kenya, they vote for their leader.
True
A country with a stable government will have a (high/low) educational system.
Countries with unstable governments often neglect their education systems, diverting resources to immediate concerns over long-term
Define Exports
When countries sell their resources, materials, and goods they produce to another country.
Economics
The study of how a society manages its resources to produce and distribute goods and services.
Globalization
growth to a global or worldwide scale
In a parliamentary democracy, who chooses the leader?
citizens elect the members of the legislative branch (usually called a “parliament”), which then chooses the chief executive (usually called the “prime minister”
What is the purpose of tariffs and quotas?
The main objective of tariffs and quotas is to protect the domestic industries and jobs from high foreign competition
What is a mixed economy?
This is an economic system that is a mixture of command, market, and traditional economies.
Embargo
A government order that restricts or proh
Barriers to trade
government rules that block or inhibit international trade between countries.