South Africa's Economy: Checkpoint 1

Quick checkpoint - five questions on minerals, apartheid, the 1994 transition, unemployment and BEE.

Question 1 of 5 What was discovered on the Witwatersrand in 1886?

Gold Oil Coal only Diamonds

Johannesburg grew around the gold mines.

Question 2 of 5 How did apartheid harm the economy?

It wasted talent by restricting education and jobs It raised skills It expanded markets It had no effect

Discrimination misallocates talent.

Question 3 of 5 What did the 1996 GEAR policy emphasise?

Fiscal discipline and trade opening Nationalising all industry Printing money Closing borders

Stability improved, but unemployment stayed high.

Question 4 of 5 What is South Africa's unemployment rate roughly?

Above 30 percent About 3 percent About 10 percent Zero

Youth unemployment exceeds 45 percent.

Question 5 of 5 What does BEE aim to do?

Increase Black ownership and management in business Ban foreign firms Cut taxes End mining

Critics say early deals favoured an elite.

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