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