Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which statement concerning post-independence African economies is false? Group of answer choices Independent African states inherited colonial economies geared around exports of commodities, including cash-crops
Which statement concerning post-independence African economies is false? Group of answer choices Independent African states inherited colonial economies geared around exports of commodities, including cash-crops and mined natural resources. Most African leaders created independent African economies by breaking ties with the former colonizing power and investing heavily in industrialization and education. By the 1970s, most African states were sending huge quantities of capital to Western banks, states, and international organizations to make payments on loans. Serving this debt meant that African states had less money to invest in things like roads, schools, and hospitals. African producers of commodities had little control over prices that were set by the world market, which made them very vulnerable to price fluctuations
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started