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1. ______________ is a set of systems and institutional arrangement for decision making concerning allocations of resources, production and distribution of goods and services

a. Co-ordination mechanism
b. Decision makers
c. Government
d. A & b

2. The working parts of an economy fall into two categories namely, decision makers and

a. Mixed economy
b. Economic systems
c. Open economy
d. b & c

3. Africa’s most valuable exports are

a. Minerals and petroleum
b. Petroleum and Cocoa
c. Cocoa and minerals
d. All of the above

4. Which of the following is the best example of planned economy

a. U.S.A
b. U.K
c. China
d. Brazil

5. An economy that interact with other economies in the world is called

a. Close economy
b. Open economy
c. International economy
d. Mixed economy

6. The net exports of any country are the value of its

a. Import minus export
b. Import plus export
c. Export plus import
d. Export minus import

7. The three primary systems for allocating resources are

a. tradition, command, and central planning
b. tradition, central planning, and communal
c. command, market, and socialism
d. tradition, command, and market

8. During the nineteenth century, African rulers usually desired transfer of which of the following western technologies?

a. Medicines
b. Weapons
c. Navigational instruments
d. Chemical fertilizers

9. Which of the following countries practiced indirect rule in governing its colonies in Africa?

a. Portugal
b. France
c. Germany
d. Great Britain

10. Which ideology questioned the sanctity of private property?

a. Capitalism
b. Socialism
c. Mercantilism
d. Liberalism

11. The Western Africa flourished during the 15th century, and this wealth was based on

a. Trade in human
b. Trade in precious stones
c. Trade in oil
d. Trade in ruins

12. Among the most notorious leaders of Africa was Mobuto Sese Seko of Zaire, whose regime has been called a ______________ due to it looting of nation’s wealth.

a. Kleptocracy
b. Noocracy
c. Democracy
d. Plutocracy

13. Based on per capita income, the islands of the Caribbean are classified as __________ except for Guyana and Haiti

a. Low-income countries
b. High-income countries
c. Middle-income countries
d. None of the above

14. The leading Caribbean export comes from

a. Cuba
b. Mexico
c. Jamaica
d. Trinidad and Tobago

15. According to Leonce Ndikumana, which of the following factors that gave hope for the faster growth in Africa in 2008.

a. High global demand for primary commodities
b. Macroeconomic stability
c. Africa shed spotlight on technical and vocational skills development
d. All of the above

16. The Caribbean economy is closely linked to the performance of the

a. U.K economy
b. U.S economy
c. China’s economy
d. All of the above

17. Since mid-20th century corruption and corruption contributed to Africa’s poor economy


18. During the 18th and the early 19th centuries, sugar plantation in the Caribbean became alarming and this caused labour demanded to increase which was later solved by increase in technology.


19. During the Cold War, the main goal of much of the aid money was to win the allegiance of African leaders.


20. In the years immediately after independence, many nations in Africa agreed to follow rigorous IMF restructuring plans.


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