How are the economies of South Africa and Nigeria different from each other?

Answer:

Responses may vary but should include some or all of the following information: Nigeria has a developing economy. This means that the country is in the process of shifting from an agriculture-based economy to an industrialized one. Most people farm for a living: about 79% of the economy is based on agriculture. As a result, per capita GDP is low, about $2,400. South Africa has an emerging market economy. This means that its economy is becoming more advanced. The country has already become industrialized; its economy is based on service industries and on industries like manufacturing and mining. Just 9% is based on agriculture. The GDP is much higher, at about $10,700 per person.