Introduction to Economics
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Questions and Answers

Which statement accurately describes the role of agriculture in Sudan's economy?

  • It primarily focuses on industrial manufacturing, contributing only 8% to the GDP.
  • It employs 75% of the population and contributes 70% of the country's exports. (correct)
  • It is a minor sector, with services and industry being the dominant contributors to GDP.
  • It mainly involves mining gold, which boosts the nation's foreign exchange reserves.

Gum Arabic production in Sudan significantly benefits local producers due to efficient harvesting techniques and favorable government policies.

False (B)

Name three agricultural products, other than cotton, that Sudan exports.

Sesame seeds, sorghum, and groundnuts

With an annual production exceeding 100 tons, _______ is a significant mineral resource in Sudan and greatly contributes to the nation's foreign exchange reserves.

<p>gold</p> Signup and view all the answers

Match the following sectors with their approximate contribution to Sudan's GDP:

<p>Agricultural Sector = 39% Industrial Sector = 8%</p> Signup and view all the answers

Which of the following factors contributed to the increase in livestock production in Sudan?

<p>Better credit policy (A)</p> Signup and view all the answers

What approximate percentage of the global gum Arabic supply does Sudan export?

<p>80% (A)</p> Signup and view all the answers

Which of the following activities related to the industrial sector takes place in Sudan?

<p>Electronics assembly (D)</p> Signup and view all the answers

Which of the following is an example of a non-tax revenue for a government?

<p>Income from public enterprises (D)</p> Signup and view all the answers

A balanced budget occurs when a government's expenditure exceeds its income.

<p>False (B)</p> Signup and view all the answers

Define 'Balance of Trade' in the context of international economics.

<p>The relation between the size of exports and size of imports in a country</p> Signup and view all the answers

A trade ______ occurs when a country imports more goods and services than it exports.

<p>deficit</p> Signup and view all the answers

In 2017, Sudan's budget had a revenue of 77 billion SP and an expenditure of 91.1 billion SP. What was the deficit?

<p>14.1 billion SP (C)</p> Signup and view all the answers

Sudan's deficit in the Balance of Trade is primarily attributed to what factor?

<p>Lack of manufacturing industry and commercial agriculture (B)</p> Signup and view all the answers

Match the budget types with their descriptions:

<p>Balanced Budget = Income is equal to expenditure. Deficit Budget = Expenditure exceeds income. Surplus Budget = Income exceeds expenditure.</p> Signup and view all the answers

Identify two factors that can influence a country's balance of trade.

<p>Exchange rates and trade policies</p> Signup and view all the answers

Which factor primarily determines whether multiculturalism strengthens or weakens a nation?

<p>How wisely or poorly multiculturalism is managed. (D)</p> Signup and view all the answers

Religious belief and religious practice are always directly correlated; if someone believes strongly, they actively practice their religion.

<p>False (B)</p> Signup and view all the answers

Briefly describe three major functions that religion provides in society.

<p>Social cohesion, social control, providing norms.</p> Signup and view all the answers

Studying religion offers a deeper understanding of diverse beliefs and rituals, allowing one to appreciate alternative perspectives of religious ______.

<p>reality</p> Signup and view all the answers

Which of the following is a way that religion influences business?

<p>By providing ethical guidelines such as honesty and trust. (D)</p> Signup and view all the answers

Which of the following is NOT typically considered a primary area of Islamic Studies?

<p>Astrology (B)</p> Signup and view all the answers

Religion always leads to separation and conflict among people in society.

<p>False (B)</p> Signup and view all the answers

Public administration is primarily concerned with profit and market competition.

<p>False (B)</p> Signup and view all the answers

What is the main objective of politics related to people?

<p>making agreements between people to live together in groups</p> Signup and view all the answers

How can religion serve as a source of strength within a society?

<p>By fostering solidarity, equity, and unity among individuals. (D)</p> Signup and view all the answers

Match each religion with its general geographic origin:

<p>Christianity = Middle East Islam = Middle East Buddhism = India Hinduism = India</p> Signup and view all the answers

In universities, the study of politics is known as political science, political studies, or public ______________.

<p>administration</p> Signup and view all the answers

Match the following activities with their respective domains:

<p>Devising policies for public welfare = Politics Implementing policies for public welfare = Administration Activities carried out by elected members = Politics Activities carried out by non-elected public servants = Administration</p> Signup and view all the answers

Which sector is business administration related to?

<p>Private sector (B)</p> Signup and view all the answers

Politicians are responsible for implementing and managing policies.

<p>False (B)</p> Signup and view all the answers

Which of the following is primarily the concern of administration, rather than politics?

<p>Scientific task of management and planning. (D)</p> Signup and view all the answers

Which of the following best describes the relationship between psychology and sociology?

<p>Psychology focuses on individual functions within society, while sociology examines how society functions for individuals. (B)</p> Signup and view all the answers

August Comte is recognized as the first social scientist to lay the groundwork for sociological studies.

<p>False (B)</p> Signup and view all the answers

Name three social factors that can significantly influence business operations.

<p>Lifestyle, culture, and community behavior</p> Signup and view all the answers

__________ is an exchange between two or more individuals and is a building block for society.

<p>Social interaction</p> Signup and view all the answers

Match the category of social interaction with its description:

<p>Exchange = A reciprocal process where individuals give and take resources or services. Competition = A struggle between individuals or groups for a valued resource or goal. Cooperation = Individuals or groups work together to achieve a common goal. Conflict = Opposition or struggle between people or groups over scarce resources or values.</p> Signup and view all the answers

Which of the following definitions best describes 'culture' in a sociological context?

<p>The shared knowledge, beliefs, and practices of a group of people. (B)</p> Signup and view all the answers

Multiculturalism requires that all cultural groups assimilate into a single, dominant culture to ensure social cohesion.

<p>False (B)</p> Signup and view all the answers

Why is the study of sociology important in addressing social problems?

<p>Sociology offers a scientific approach to studying social issues and finding potential solutions. (C)</p> Signup and view all the answers

Which of the following is NOT directly managed by the Ministry of Finance as part of economic policy?

<p>Interest rate of financing (C)</p> Signup and view all the answers

Monetary policy primarily focuses on directly controlling government spending and taxation.

<p>False (B)</p> Signup and view all the answers

What are the two main instruments used to manage a country's economy, as indicated in the text?

<p>Economic policy and monetary policy</p> Signup and view all the answers

Achieving sustainable economic growth through adjusting the money supply is a function of ______ policy.

<p>monetary</p> Signup and view all the answers

Match the following areas with the policy instrument primarily responsible for managing them:

<p>Taxation = Economic Policy Interest Rates = Monetary Policy Government Budgeting = Economic Policy Money Supply = Monetary Policy</p> Signup and view all the answers

According to the provided text, psychology is defined as the scientific study of:

<p>Mind and behavior (C)</p> Signup and view all the answers

The primary goal of psychology is solely to describe human behavior.

<p>False (B)</p> Signup and view all the answers

Which of the following represents a goal of psychology focused on determining how and why certain behavioral trends occur?

<p>Explaining behavior (D)</p> Signup and view all the answers

Flashcards

Economic Policy

Government policies through the Ministry of Finance to manage the economy.

Areas of Economic Policy

Includes budgeting, taxation, and labor market management.

Monetary Policy

Actions by a central bank to control money supply and achieve growth.

Goals of Psychology

To describe, explain, predict, and change behavior and mental processes.

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Describing behavior

The first goal of Psychology to identify and outline behaviors.

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Explaining behavior

The second goal that involves creating theories about observed trends.

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History of Psychology

Field began in the 17th century and gained traction in the late 19th century.

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Influential Psychologists

Figures like Freud, Maslow, and James contributed significantly to the discipline.

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Psychology vs Sociology

Psychology studies individual behavior; sociology studies society's behavior.

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Branches of Sociology

Sociology includes various branches such as criminology and urban sociology.

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Father of Sociology

August Comte is known as the father of Sociology.

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Importance of Sociology

Sociology helps solve social problems and understand societal actions.

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Social Interaction

Exchange between individuals; vital for societal structure.

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Culture

Set of characteristics including values and beliefs of a group.

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Multiculturalism

Many cultures living together within the same society.

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Social Factors in Business

Sociology influences business through social norms and behaviors.

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Indirect Tax

A tax collected by the government through intermediaries like customs, VAT, or sales tax.

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Non-Tax Revenue

Income generated from sources other than taxes, such as public enterprises, fees, and fines.

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Balanced Budget

A budget where income and expenditure are equal, resulting in neither deficit nor surplus.

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Deficit Budget

A budget where expenditure exceeds income, resulting in a deficit.

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Surplus Budget

A budget where income exceeds expenditure, leading to a surplus.

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Balance of Trade

The difference between a country's exports and imports.

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Trade Deficit

Occurs when a country imports more than it exports, indicating a negative balance.

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Capital Revenue

Revenue from the sale of fixed capital assets, such as property or equipment.

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Sudan Economic Sectors

Sudan's economy is divided into three main sectors: agricultural, industrial, and service.

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Agricultural Sector

The primary economic sector in Sudan, employing 75% of the population and contributing 39% to GDP.

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Main Agricultural Exports

Cotton, sesame seeds, sorghum, sugar, livestock, groundnuts, and gum Arabic are significant exports.

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Gum Arabic

A key agricultural product in Sudan, making up 80% of the global supply with 60,000 tons exported annually.

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Industrial Sector

Comprises agricultural processing, mining (notably gold), and various light industries, contributing 8% to GDP.

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Gold Mining

A crucial industry in Sudan, producing over 100 tons annually and boosting foreign exchange reserves.

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Contribution to GDP

Agriculture contributes 39% while industry contributes only 8% to Sudan’s GDP.

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Livestock Importance

Livestock plays a significant role in the national economy, with production increased by better practices.

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Strength in multiculturalism

When managed well, multiculturalism can foster unity and strength in societies.

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Conflict in multiculturalism

When poorly managed, multiculturalism can lead to conflict and division.

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Definition of Religion

A systematic approach to faith, worship, and supreme importance.

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Functions of Religion

Religion provides social cohesion, controls morals, and maintains societal norms.

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Importance of studying religion

Understanding religion helps comprehend diverse beliefs and rituals in society.

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Types of Islamic Studies

Areas of study related to Islam including Qur’anic Studies and Islamic Theology.

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Religion as a source of strength

Religion promotes respect, unity, and solidarity among individuals.

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Religion's Influence on Business

Religion affects business through ethics, promoting trust, honesty, and respect.

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Ethical Objections

Religions object to harmful economic activities like gambling and alcohol.

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Role of Religion in Work

Religion encourages work and societal building consistent with its values.

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Definition of Politics

Politics is the process of making decisions in groups for governance.

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Public Administration vs. Business Administration

Public administration implements government policies, while business focuses on profit.

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Politics and Administration

Politics involves policy making; administration is about execution and management.

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Study of Politics

Political science explores governance structures and public policy making.

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Policy Formation

Politicians design inclusive policies; administration manages and plans them.

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Study Notes

Economics

  • Economics is the social science that analyzes the production, distribution, and consumption of goods and services.
  • Two types of economics
    • Macroeconomics: studies the performance of an economy as a whole, focusing on aggregate changes such as unemployment, GDP growth rates, and inflation.
    • Microeconomics: studies the behavior of individuals, households, and firms, focusing on decision-making and resource allocation.
  • GDP (Gross Domestic Product): the monetary value of all goods and services produced within a country's borders in a specific time period.
  • GNP (Gross National Product): the total monetary value of all goods and services produced by the citizens of a country in a given period of time, regardless of location.
  • Per Capita Income: calculated by dividing a country's total income by the number of people living in that country.
  • Four types of Economic Systems
    • Traditional Economy: scarce resources are distributed according to traditions.
    • Market Economy: prices and production decisions are determined by the interactions within the market system
    • Command Economy: resources are distributed according to a central authority.
    • Mixed Economy: features of various economic systems.
  • Economic Sectors
    • Primary Sector: concerned with extracting raw materials from the earth (e.g., mining, agriculture)
    • Secondary Sector: involves manufacturing finished products from raw materials (e.g., industrial sector)
    • Tertiary Sector: encompasses services (e.g., retail sales, transportation).

Psychology

  • Psychology is the scientific study of the mind and behavior.
  • Goals of Psychology: describing, explaining, predicting, and changing behavior and mental processes.
  • Areas of Psychology: Education, Sports, Politics, Management, Humanities, Natural Sciences, and Scientific Research.
  • Importance of Studying Psychology: understanding people, improving oneself, decision-making, stress management, mental wellness, etc.
  • Application of Psychology: Improving health, education, employment, etc.

Sociology

  • Sociology is the study of social life, social change, and the social causes and consequences of human action.
  • Focus involves: social relationships, culture, and institutions.
  • Similarities to psychology: Both are social sciences that study human social life.
  • Differences from psychology: Psychology focuses on individuals, while sociology focuses on society as a whole, and how society functions for individuals.
  • Branches of Sociology: Theoretical sociology (micro/macro theory), Sociology of Knowledge, Criminology, Sociology of Religion, Sociology of Economy, Rural Sociology, Urban Sociology, etc.
  • Importance of Sociology: Understanding social problems, resolving them, evaluating societal influences, and understanding human interactions within the social structure.

Religion

  • Religion is defined as a particular system of faith and worship.
  • It involves: A particular system of faith and worship, the pursuit of which holds supreme importance for adherents.

Politics

  • Politics is the way people living in groups and making decisions.
  • Involves agreements among people within a group or nation.
  • Deals with governance, politics, and public administration.
  • Key Differences between Politics and Administration:
    • Politics involves formulating policies, while administration implements them.
  • Types of Governments:
    • Totalitarian (authoritarian or dictatorship): absence of free elections, censorship, lack of freedom of press and expression.
    • Democratic: free elections, freedom of speech and press, accountability, respect for human rights.
    • Parliamentary Democracy: people elect parliament, which in turn elects the Prime Minister.
    • Presidential Democracy: people directly elect the president, who then appoints ministers and subordinates.

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