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