Why does specialization make trade between countries easier?

Countries produce what they make best and trade with for what they need.

Which one is an example of specialization?

A factory focuses on producing one/two types of goods it is good at doing.

Which of the following would reflect Brazil's mixed economy?

A combination of privately-owned businesses and government regulations.

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Mini Quiz Economics of Latin America

12 termsStudBud Administration311 plays

SS6E1 Analyze different economic systems. SS6E2 Give examples of how voluntary trade benefits buyers and sellers in Latin America. SS6E3 Describe factors that influence economic growth and examine their presence or absence in Brazil, Cuba, and Mexico.

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Questions 12

Answers

1
Brazil charges special taxes on European fruits and vegetables brought into the country. What type of trade barrier?
Embargo
Free trade
Quota
Tariff
2
During the 1960s, the United States placed an embargo on this country in response to its ties to Communism.
The country at Letter C
The country at Letter D
The country at Letter B
The country at Letter A
3
Which country on the economic continuum below is the most free from government control?
The country at Letter B
The country at Letter C
The country at Letter A
The country at Letter D
4
In order for someone in Cuba to buy and sell goods with someone in China, what must both parties do?
Nothing, they both use the same currency
Use bartering techniques
Translate the transaction from Spanish to Mandarin
Exchange currencies
5
Mexico has an economic system that is 67% free and 33% command. Where is Mexico located on the economic continuum?
Letter D
Letter A
Letter B
Letter C
6
Which Latin American country has a command-leaning economic system?
The country at Letter B
The country at Letter C
The country at Letter A
The country at Letter D
7
Which country's capital goods are represented in the chart below?
Mexico
Brazil
Cuba
None of the above
8
Why does specialization make trade between countries easier?
A country’s economy will never go through hard times if they specialize.
There is always a supply of goods on the market so trade is not needed.
The competition between countries will not exist.
Countries produce what they make best and trade with for what they need.
9
Which letter represents Cuba on the economic continuum below?
Letter C
Letter A
Letter B
Letter D
10
Which one is an example of specialization?
A business makes many different types of products.
A violin maker completes the entire process of making a violin by himself.
A factory focuses on producing one/two types of goods it is good at doing.
A country buys all the goods it needs from other countries.
11
Which of the following would reflect Brazil's mixed economy?
Prices and wages are solely regulated by the country’s government.
All economic decisions are based on customs and beliefs of ancestors.
The country’s distribution of resources is based on inheritance.
A combination of privately-owned businesses and government regulations.
12
The economic system of Brazil be best described as:
Mixed Market
Pure Market
Traditional
Mixed Command

Mini Quiz Economics of Latin America Flashcards | StudBud

Mini Quiz Economics of Latin America

12 termsStudBud Administration311 plays

Flashcards12 cardsFPractice quizPHost liveL

Questions 12

Answers

1
Brazil charges special taxes on European fruits and vegetables brought into the country. What type of trade barrier?
Embargo
Free trade
Quota
Tariff
2
During the 1960s, the United States placed an embargo on this country in response to its ties to Communism.
The country at Letter C
The country at Letter D
The country at Letter B
The country at Letter A
3
Which country on the economic continuum below is the most free from government control?
The country at Letter B
The country at Letter C
The country at Letter A
The country at Letter D
4
In order for someone in Cuba to buy and sell goods with someone in China, what must both parties do?
Nothing, they both use the same currency
Use bartering techniques
Translate the transaction from Spanish to Mandarin
Exchange currencies
5
Mexico has an economic system that is 67% free and 33% command. Where is Mexico located on the economic continuum?
Letter D
Letter A
Letter B
Letter C
6
Which Latin American country has a command-leaning economic system?
The country at Letter B
The country at Letter C
The country at Letter A
The country at Letter D
7
Which country's capital goods are represented in the chart below?
Mexico
Brazil
Cuba
None of the above
8
Why does specialization make trade between countries easier?
A country’s economy will never go through hard times if they specialize.
There is always a supply of goods on the market so trade is not needed.
The competition between countries will not exist.
Countries produce what they make best and trade with for what they need.
9
Which letter represents Cuba on the economic continuum below?
Letter C
Letter A
Letter B
Letter D
10
Which one is an example of specialization?
A business makes many different types of products.
A violin maker completes the entire process of making a violin by himself.
A factory focuses on producing one/two types of goods it is good at doing.
A country buys all the goods it needs from other countries.
11
Which of the following would reflect Brazil's mixed economy?
Prices and wages are solely regulated by the country’s government.
All economic decisions are based on customs and beliefs of ancestors.
The country’s distribution of resources is based on inheritance.
A combination of privately-owned businesses and government regulations.
12
The economic system of Brazil be best described as:
Mixed Market
Pure Market
Traditional
Mixed Command