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LA Econ

Latin America Government and Economics Unit Review Cards

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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