If a country doesn't invest in it's capital goods, what will be the result?
The GDP will be higher than other countries.
The GDP will remain the same as other countries.
The GDP isn't affected by investing in capital goods.
The GDP will be lower than other countires.
What happens if a country increases it's literacy rate?
The standard of living and GDP will not change.
The standard of living and GDP will decrease
The standard of living and GDP will increase.
The standard of living and GDP aren't affected by literacy rate.
How would a country completely stop a product from coming into the country
Quota
Tariff
subsidary
Embargo
Which country has a Command economy?
Mexico
Australia
Cuba
Brazil
What does NAFTA allow to happen among the countries of USA, Mexico and Canada
It forms embargos among countries.
It forms blockades among countries.
It forms trade agreements quotas among countries.
It forms tariffs among countries.
What are the three economic questions?
What to produce, what is the capital needed, and why to produce?
What is the opportunity cost, economic resources and why to produce?
What to produce, why produce it and when to produce?
What to produce, how to produce and for whom to produce?
Who makes economic decisions in a command economy?
Consumers
Markets
Government
Producers
Brazil and Mexico have economic systems that use government & businesses making decisions- name that system?
Command
Market
Traditional
Mixed
Indigenous groups of Latin America barter and trade. What economic system is that?
Command
Market
Mixed
Traditional
Which is an example of a mixed economy?
Supply and demand only answer the three questions.
Customs and traditions only answer the three questions.
The government only answers the three questions.
Businesses and government answers the three questions.
What is an example of a physical trade barrier?
mountain
quota
embargo
tariff
What is ane example of specialization?
Cuba exporting sugar, tobacco and corn.
Mexico exporting oil, fruit and wheat.
Brazil exporting different varieties of fruits and vegatables.
Venezuela only exporting oil.
What is taxed when a tariff is put in place?
income
imports
renewable resources
property
Why is a system of currency exchange needed in Latin America?
Latin American countries lack economic resources.
Latin American countries have command economies.
Latin American countries have mixed economies.
Latin American countries all use different forms of currency.
