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- Multiple ChoicePlease save your changes before editing any questions.
There are few obstacles to starting businesses
Market Economy
Command Economy
Traditional Economy
- Multiple ChoicePlease save your changes before editing any questions.
Bartering is a common means of exchange
Market Economy
Command Economy
Traditional Economy
- Multiple ChoicePlease save your changes before editing any questions.
There are strong private property protections
Market Economy
Command Economy
Traditional Economy
- Multiple ChoicePlease save your changes before editing any questions.
The government owns all businesses
Market Economy
Command Economy
Traditional Economy
- Multiple ChoicePlease save your changes before editing any questions.
The government sets production quotas for goods
Market Economy
Command Economy
Traditional Economy
- Multiple ChoicePlease save your changes before editing any questions.
Based on the information in the diagram, what do the economies of Nigeria, South Africa, and Kenya have in common?
All severely limit foreign trade.
All discourage entrepreneurship.
All have high standards of living.
All have mixed economies.
- Multiple ChoicePlease save your changes before editing any questions.
In South Africa, businesses and consumers make decisions based on market principles rather than government demands.
For many years, the Nigerian government controlled the major industries in the country. Recently, more and more industries have been taken out of the government's hands and become privatized.
Read the passage and answer the question
While both countries have market economies, Nigeria's economy has more command elements.
While both countries have command economies, Nigeria's economy has more market elements.
While both countries have market economies, South Africa's economy has more command elements.
While both countries have command economies, South Africa's economy has more market elements.