Why did the economies of many african nations fail after they gained independence?

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Answer 1

They had limited their trading with colonial nations that controlled them and only to their home countries as well. Another factor is that they were left with no other resources, that the other countries had failed to teach Africa as well, when they were independent, which caused them to have a failure in terms of infrastructure and system.


Related Questions

A car crash woke john from his afternoon nap. when he looked out of his apartment window, he saw several people milling around two smashed cars. he decided not to dial 911 because he assumed someone had already called. john's reaction is an example of

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John's reaction is an example of the bystander effect.
It means that he will just continue staring at the accident because he is curious as to what happened and he wants to see how the event is resolved, however, he is not really willing to do anything to help the people involved - he will just assume someone else will do that.

In the past, how have you handled receiving conflicting instructions from different people at the same time?

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By asking questions and demonstration. In this way, you would be able to understand the instructions fully. With the help of demonstration, it will help you understand on what to do while by asking questions, it allows you to understand the whole procedure and its importance.

If a rent ceiling is set at​ $900 a​ month, what is the housing​ shortage? if a rent ceiling is set at​ $1,500 a​ month, what is the housing​ shortage?

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You are asked to find the housing shortage if a rent ceiling is set at​ $900 and $1,500 a​ month. Since we are not given any other values, I will set an equilibrium rate for the rent ceiling at $1000. You have to know that you cannot answer this problem if you do not know the conditions. The first condition is that if the rent ceiling is above the set equilibrium then it will have no effect in the housing shortage because it exceeded the quantity demanded for the housing. Therefore $1500 has no market shortage. But if the rent ceiling is below the set equilibrium then it creates a housing shortage so $900 has a housing shortage. 

If a congressional leader passes a bill favorable to a particular pharmaceutical firm, then resigns to take a consultant position with the same firm, this may be an example of

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The answer to this question is that it is an example of regulatory capture.

Regulatory capture is a situation where in the interest of the business or firm is being prioritized by the firm in order for them to advance and succeed. There are two types of regulatory capture; a materialistic capture and non-materialistic capture.

When does the appraisal process begin?

a. when the manager defines performance standards for an employee

b. after the manager observes the employee's performance

c. as soon as the employee begins working?

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The appraisal process is a procedure of which a higher authority or someone authorized to assess the abilities and the performance of the employees. In the choices above, it begins in letter a, when the manager defines performances standards for employees because this is considered to be an orientation for the employees of which they should apply before the assessing starts. Once they have ingested the performances standards, the assessing begins, or the so called appraisal process.

A server expects a group of poorly dressed customers to be stingy tippers and gives them poor service, so he gets the result that he expects, a very small tip. this is an example of

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The answer to the given blank above is SELF-FULFILLING PROPHECY. From the term itself, self-fulfilling prophecy refers is a kind of prediction made by someone which most likely becomes true, may it be directly or indirectly. Usually, this is a result of both belief and behavior. In the given scenario above, the waiter, serving poorly dressed customers, predicts that he is going to be tipped low and so he gives them bad service. As a result, he did really get a smaller tip, just as he expects or believes.

What is the most important tool for analyzing the production, distribution, and consumption of goods and services?

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Economics is used for analyzing the production, distribution, and consumption of goods and services.
Economics is actually a branch of Social Science.The word Economics comes from a greek word Oikou-Nomos, which means household management. Economic analysis can be applied throughout society in business, healthcare, finance and government. it is also applied to some diverse subjects like crime family, law, politics etc.

Percy gray, a professional nature photographer, is planning to buy a camera. recently, when he came across an ad in a magazine, he carefully considered and evaluated the various attributes of the cameras. he was keen on weighing the advantages against the price and also considered the usability of the products under inclement weather conditions. in this instance, percy gray is focusing on the _____.

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Percy Gray was focusing on the features of the camera. This would provide the intended output of a subject. Also, it would give versatility on taking pictures. Limited features cannot bring out better photo result. He learned that he would improve if himself gave that he has this kind of camera.

What does 1/4 of a can of coffee cost if 4 cans of coffee costs $2.40?

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In this item, we calculate first for the price of each can of coffee by dividing the cost by the number of cans of coffee.

        Price per can = cost / total number of cans of coffee
        price per can = ($2.40) / 4 = $0.6/can

To compute for the price of the 1/4 can, multiply the price by can by 1/4.
       price of 1/4  can of coffee = (1/4 can)($0.6/can)
       price of 1/4 can of coffee= $0.15

Therefore, the 1/4 can of coffee will cost only $0.15.

Nigel currently has a balance of $668.47 in an account he has held for 15 years. he opened the account with an initial deposit of $497. what is the simple interest rate on the account?

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To calculate the simple interest rate on Nigel's account, the interest earned over 15 years is first determined by subtracting the initial deposit from the current balance. This amount is then divided by the product of the original deposit and the number of years to find the rate, which is found to be 0.23%.

To determine the simple interest rate on Nigel's account, we need to use the formula for simple interest, which is I = P * r * t, where 'I' stands for the interest earned, 'P' for the principal amount (initial deposit), 'r' for the rate of interest, and 't' for the time in years.

Since we have the initial deposit (P = $497), the total amount in the account after 15 years (A = $668.47), and the time (t = 15 years), we can first calculate the interest earned (I) by subtracting the initial deposit from the total account balance.

Step 1: Calculate Interest Earned (I)

I = A - P = $668.47 - $497 = $171.47

Step 2: Apply the Simple Interest Formula

Next, we divide the interest earned by the product of the principal and the time to find the rate:

r = I/(P*t)

r = $171.47/($497 * 15)

Step 3: Calculate the Simple Interest Rate

r = 0.0023 or 0.23%

Therefore, the simple interest rate on Nigel's account is 0.23%.

Assume the CPI increases from 100 to 110. Explain the impact of this inflation (helped, hurt, not impacted) on each of the following:
A surveyor who took out a 5% fixed-rate loan last year to buy new equipment.
A bank that awarded a 6% fixed-rate loan to a couple buying their first home.
A company signs a contract to clean classrooms at a fixed rate for the next 5 years. The company does not have a labor contract with its employees.
A union worker who received a 10% cost of living adjustment.
A student who currently earns 2% interest on her savings account.

Answers

Inflation is the act wherein the general price level of the goods and services have sustained. It is also has a tendency to reduce the value of money when it is too high, but it also depends on the interest rate if it’s higher. Therefore the answers of these would be:

 

a. Considering the fixed rate of the new equipment, it would gain 4% 

b. Due to the loan, 4% would be lost. 

c. Lack of the documentation of the employees would allow the company to lose.

d. The result would be unchanged.

e. The result would be the loss of 8%

How is the national debt affected by the national budget?
A. The debt decreases as the government prints money.
B. The debt decreases when spending is greater than taxes.
C. The debt increases every year that there is a budget deficit.
D. The debt increases when the budget is balanced.

Answers

Answer:

The debt increases every year that there is a budget deficit

Explanation:

When the national spending is greater than national revenue there is budget deficit.  The national debt is accrual of that budget deficit.  Hence when there is budget deficit there is increase in national debt.

Final answer:

When the government spends more than it earns through taxes, a budget deficit results which increases the national debt. The debt rises every year there is a budget deficit as the government must borrow to cover the shortfall.

Explanation:

The national debt is significantly affected by the national budget. When the government spends more than it collects in taxes, a budget deficit occurs. This deficit leads to an increase in the national debt because the government must borrow to cover the shortfall.

So, to answer your question, option C is the most accurate: 'The debt increases every year that there is a budget deficit.' This is because a budget deficit means the government has spent more than it has collected in revenue, and therefore needs to borrow money to make up the difference, increasing the national debt.

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A production function shows output that can be produced from

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A production function demonstrates the connection between contributions of capital and work and different elements and the yields of products and enterprises. The least complex conceivable generation work is a straight creation work with work alone as an information. A production work relates physical yield of a creation procedure to physical data sources or factors of generation.
Final answer:

A production function shows the maximum output that can be produced using various combinations of inputs such as labor or capital. It is often expressed as a mathematical equation. The law of diminishing returns applies, meaning at some point, adding more inputs will not proportionately increase the output.

Explanation:

A production function illustrates the output that can be created from using certain amounts of inputs in the production process. It depicts the association between the quantity of factor inputs (like labor or capital) and the resulting output of goods or services. For instance, a company may increase the quantity of raw materials and labor to increase production. However, the law of diminishing returns identifies a point after which the addition of more inputs does not result in proportionately increased output.

In mathematical terms, the production function is usually expressed as Q=f(L, K) where Q is the quantity of output, L is the quantity of labor, and K is the quantity of capital.

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A policy promoting cutbacks in the amount of federal regulations in specific areas of economic activity is

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The answer is deregulation. It removes restrictions from laws for to allow competition among the industries and set into the market. However, based on experience, industries, and investments suffered from this set-up. The government stopped it after the mortgage crisis last 2007.

It was also found out that is is difficult to apply because of existing monopolies that can control prices in the market.

Calculate the simple interest you would receive in one year on a savings account that earns 5% annual interest. your beginning balance is $255.19.

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The simple interest formula:
I = P * r * t,
where:
I - interest,
P - investment,
r - interest rate,
t - time ( in years )
P = $255.19,  r = 5% = 0.05,  t = 1
I = $255.19 * 0.05 * 1 = $12.7595 ≈ $12.76
Answer: The simple interest you would receive in 1 year is $12.76.

When a price floor that has an impact is imposed, the quantity?

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When a price floor that has an impact is imposed, the quantity DEMANDED WILL DECREASE AND THE QUANTITY SUPPLY WILL INCREASE. Price floor is often imposed by the government in order to prevent a price from falling below a certain point. When a price floor is placed above the equilibrium price, quantity supplied will be more than quantity demanded and there will be excess supply.

Often, the sum of the initial estimated costs is greater than the amount of funds budgeted by the sponsor. what should be done to arrive at an acceptable budget amount

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In order to arrive at an acceptable budget amount, there is a need to revise the budget expecting that several iterations may need to be made to reduce the costs .Oftentimes, the amount that is planned is not followed due to unexpected reasons. At times, it would be greater than what was estimated so that adjustments should be made in order to decrease the costs. 

When neither party consents but an effect or results or liability or right is created this is called?

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The answer is Operation of Law. This is a legal term that points out that a right or liability has been formed for a party, irrespective of the intention of that party, because it is ordered by existing legal principles. For example, if an individual dies without a will, his or her heirs are resoluted by operation of law. Similarly, Adverse possession, in which title to land go by because non-owners have engaged it for a definite period of time, is another significant right that vests by operation of law.

If lightning is striking nearby when people are outside and there is no time to evacuate, they should:

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If lightning is striking nearby when people are outside and there is no time to evacuate, they should: Avoid squatting or sitting close to other people.
Electricity has the ability to travel as long as it connected to a medium. When sitting closely to one another, it provides enough medium for the electricity to travel which will expand the causalities

In the united states, government interventions that restrict a person's ability to immediately produce and sell a product that he or she has discovered or invented are referred to as ________.

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Referred to as Market restrains. Vertical restraints are rivalry confinements in understandings between firms or people at various levels of the generation and conveyance process. Vertical limitations are to be recognized from purported "flat restrictions", which are found in understandings between even contenders.

Analyze what happens to the market for cheeseburgers if the price of bratwursts falls

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Bratwursts is a type of sausage that is used as grilled meat for cheese burger patties. In other words, bratwursts are resources of cheeseburgers. If the price of bratwursts falls, then consequently, the price for cheeseburgers also falls. This would attract the market since they always opt for lower prices. Hence, the market for cheeseburgers would increase.

The portion of an e-seller's business through which customers interact, including the seller's portal, electronic catalogs, shopping cart, and payment gateway is referred to as the ________ of the business.

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The portion of an e-seller's business through which customers interact, including the seller's portal, electronic catalogs, shopping cart, and payment gateway is referred to as the __front end______ of the business.

















A friend asks you to bring dip to a party, and you agree. then, your friend adds that you need to make at least two quarts of it and bring at least three bowls to serve it in and three bags of chips. this party planner has used which compliance strategy on you?

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On the given scenario above, the party planner used in compliance to the strategy to you is the low ball technique. As the friend tries to initiate a specific task to you in to persuading you in his or her advantage and adding another tasks that will benefit them, which is likely to be the low ball technique starts from offering something small in hope to charged more for their advantage.

Difference between commission and request

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A request is when someone asks the artist to draw something for her without having to pay anything. 

A commission is when you pay the artist for them to draw what you want. 

i suppose it could be applied to other forms of business as well.

Which form would an individual use who has less than $50,000 in taxable income from wages, salaries, tips, unemployment compensation, interest, or dividends, and who is married and does not itemize deductions? A. Form 1040 B. Form 1040EZ C. Form 1040A D. Schedule A

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B. Form 1040EZ. However, the answer does depend on the amount of taxable interest generated (cannot use 1040EZ if taxable interest exceeds $1500). If more than $1500 in taxable interest, then the answer would be Form 1040A.

Answer:

C. 1040A

Explanation:

I got it right on the test

When you are interpreting financial ratios, it is useful to compare a company's ratios to some form of standard. true?

Answers

The statement is true. A financial ratio or also known as the  accounting ratio is a relative size of two chose numerical esteems taken from a venture's monetary articulations. Regularly utilized as a part of bookkeeping, there are numerous standard proportions used to endeavor to assess the general monetary state of a partnership or other association.

A driver should not strive to develop a positive attitude when driving

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If this is a true or false question then I would say that it is false

That statement is false

In order to  be a good driver, you need to follow many regulations even if it cause a lot more time for you to reach your destination. (such as following traffic lights, not cutting out another drivers, etc).

This would require a lot of patience that could only be achieved if you strive to develop positive attitude on and off the road.

Customer requirements are an important aspect of the quality planning process.
a. True
b. False

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That statement is false
Customer requirements is a list of characteristic that the majority of the customer want in the product.
The customer requirements are only used to determine what products should be produced. The quality provided should always be the best no matter what product the company chooses.

The financial statements of gervais manufacturing company report net sales of $500,000 and accounts receivable of $80,000 and $40,000 at the beginning and end of the year, respectively. what is the accounts receivable turnover for gervais?

Answers

Receivables turnover ratio can be calculated by dividing the net value of credit sales during a given period by the average accounts receivable during the same period. Average accounts receivable can be calculated by adding the value of accounts receivable at the beginning of the desired period to their value at the end of the period and dividing the sum by two.
500,000÷((80,000+40,000)÷2)
=8.3

Fournotts corp., a sports shoe manufacturer, launched a new sports shoe. as a part of publicity, it invited its customers to try the shoes and get a feel of its features. this is an example of _____.​

Answers

In the given scenario above, the Fournotts corporation is engaging in the method of marketing in promoting their product is called the experiential marketing. This type of marketing enables to promote their product in a way of having events to occur or held an event where consumers are invited and are asked to participate in order to show them the product that they have and to engage the consumers into being attracted to it by having them try it, handing them discounts or freebies and to have them feel that they would want to buy it, which is seen above as they held an event, inviting consumers to try on their new product.
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