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Duplicate of Latin America - Economy & Government Flashcards | StudBud
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Duplicate of Latin America - Economy & Government
Duplicate of Latin America - Economy & Government
30 terms
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StudBud Administration
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Answers
1
Which could cause a country to have a low GDP?
Increased investment in human capital
Large amount of natural resources
Increasing international trade
High illiteracy rates
2
Who has control in a mixed economic system?
Businesses only
Government & Businesses
Government only
Consumers only
3
Factories, machines, equipment, computers, etc. are examples of what?
human capital
capital goods
Trade
GDP
4
Which trade barrier involves increasing prices through taxing imports?
Embargos
Supply
Quotas
Tariffs
5
Which type of government has the least citizen participation?
Autocracy
Oligarchy
Democracy
Unitary
6
Which type of government has the most citizen participation?
Democracy
Dictatorship
Autocracy
Oligrachy
7
Which term means "producing goods a country make make easily and trading for other goods"?
Scarcity
Profit
Supply and demand
Specialization
8
Which Latin America country is a presidential democracy?
Canada
Cuba
Mexico
Brazil
9
Communist countries like Cuba have which type of economic system?
Market
Command
Traditional
Mixed
10
The higher the literacy rate, ...
the lower the standard of living.
the higher the standard of living.
11
In a presidential democracy, citizens directly elect the...
King/Queen
Head of state
President
Prime minister
12
Where would Brazil be on the economic continuum?
2
3
1
13
Economic systems based on customs or beliefs...
Traditional
Market
Command
Mixed
14
Why do most countries have a mixed economic system?
To protect consumers and support businesses
To allow businesses to have full control of the market.
Consumers want governments to control businesses
Government control helps businesses the most
15
What is NAFTA?
An example of entreprenuership
A trade embargo
A trade agreement
A trade barrier
16
Providing extra training to help an employee improve is an example of...
Investing in capital goods
Using natural resources
Encouraging entreprenuership
Investing in human capital
17
If you have arable land, this means your land is good for what?
farming
mining
construction
accumulating snow
18
Someone who starts their own business to provide a good or service is called?
Specialist
Factory worker
Entrepreneur
Consumer
19
Where would Cuba be on the economic continuum?
3
2
4
1
20
Who elects the prime minister in a parliamentary democracy?
Member of Congress
Citizens
Monarch
Member of Parliament
21
What type of economic system do most countries have?
Traditional
Mixed
Market
Command
22
Which is NOT one of the 3 economics questions asked when determining economic systems?
How to Produce?
When to Produce?
What to produce?
For Whom to Produce
23
The U.S. does not trade with Cuba. This is an example of...
Embargo
Supply & Demand
Tariff
Quota
24
If a country doesn't invest in human capital, what would happen to the GDP?
It will be lower
It would not change
It would increase and decrease.
It would increase
25
Trading with other countries requires...
Buyers & sellers to agree on a currency
Using the currency of the buyer only
The use of U.S. dollars only
No single currency between buyer and seller
26
Which is an example of investing in human capital?
Funding education
Buying machinery
Building factories
Building roads
27
In a parliamentary democracy, the prime minister is chosen from which branch?
Executive
Legislative
Judicial
National
28
NAFTA involved Canada, the U.S., and which Latin America country?
Haiti
Cuba
Mexico
Brazil
29
A rainforest is an example...
Capital goods
Entrepreneurship
Natural resources
Human capital
30
Placing a limit on the number of products imported is called ___?
Embargos
Demand
Quotas
Tariffs
