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LA Econ
Latin America Government and Economics Unit Review Cards
| Question | Answer |
|---|---|
| Who makes the economic decisions in a command economy? | government |
| What economic system can be found in Cuba? | Command |
| What are the three questions all economic systems answer? | what to produce, how to produce and for whom to produce |
| The indigenous people of Latin America would have what type of economic system? | traditional |
| What type of economics system is a combination of privately owned business and government control? | mixed |
| What type of economic system do both Brazil and Mexico have? | mixed |
| A mountain is what type of trade barrier? | physical |
| What is NAFTA? | A trade agreement that allows the US, Canada and Mexico to trade without tariffs |
| Investment in human capital does what to the GDP of a country? | increases it |
| What is another name for a tax on an IMPORTED good? | tariff |
| What type of trade barriers could keep dangerous goods from being traded? | embargo or blockade |
| Having one main export or good for trade is called what? | specialization |
| Investment in capital goods has what affect on GDP? | increases it |
| Name one group that supports NAFTA | American business owners, consumers, Mexican government, Mexican factory workers (somewhat), American farmers |
| Name one group that does not support NAFTA | American factory workers, Mexican subsistence farmers, environmentalist |
| What is human capital? | people and their training or education |
| what are capital goods? | tools, factories, technologies used to make a product |
Created by:
mgilmour
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