Answer:
In 1970 South Africa has more than 75% reserve of world gold under it soil but by 1985 it has depleted to 6%.
South Africa today has world largest reserve of platinum with over 78% in 2005.
In the same vein, South Africa has large deposit of Chromium.
Explanation:
In the case of gold, desperation and gold rush made them deplet their gold resources faster than necessary. The same mistake is being wittnessed in their Chromium reserve as China has bought over 50% of South Africa chrmlium deposite, thereby possing a great challange to the market South Africa used to dorminate.
Currently, South Africa is world largest miner of platinum. If restrain and coution is not applied, it is likely to deplet like gold in no distant time.
When interest rates increase too quickly, it can cause a chain reaction that affects the domestic economy as well as the global economy. It can create a recession in some cases. If this happens, the government can backtrack the increase, but it can take some time for the economy to recover from the dip.
Answer:
1. The idea that all resources are limited is called
c. scarcity
2. The biggest difference between Mercantilism and Capitalism is
d. In Mercantilism, the government controls what is traded, but in Capitalism, the people are free to trade what they wanted
3. Mercantilism's basic idea was to build up a nations supply of gold and silver by ________.
d. all the above
4. Which best explains how a tariff can protect a nation's businesses?
a. A US tax on imported Brazilian oranges helps raise their prices so that they are similar to the cost of oranges grown in Florida.
5. Who is known as the father of Capitalism?
b. Adam Smith
6. The law of Supply and Demand states that the more you have an item the _______ it is worth.
b. Less
Explanation: