How does having natural resources help the economy of a country?

Saves money because it doesn't have to import n.r.

How does deforestation in Brazil affect the rest of the world?

the world has more carbon dioxide in the air

How do entrepreneurs help to increase a country's GDP?

creating businesses that give people jobs

What is the purpose of free trade partnerships like NAFTA?

to increase trade by doing away with tariffs

Why is "Entrepreneur" at the top of the diagram?

It organizes all the resources to be successful.

Which describes a market economy?

A person can start any legal business and charge any price.

Which answer shows an explanation of a country with a mixed economy?

A combination of private and government control.

What's the reason for people to exchange currency?

because different countries have different currencies

Which statement describes the economy of Brazil?

mostly market with some government control

What's the purpose of a tariff?

to increase the price of imported goods for protection

In a Latin American country, the literacy rate is about 49%. Which best shows their investment in human capital?

Low investment in human capital means lower GDP.

What is the advantage of specialization?

A factory can produce more goods in less time less money.

How does investment in capital goods help increase GDP?

It produces more goods at a better price.

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Latin America 2020-2021

23 termsStudBud Administration647 plays

Economic systems, trade, environmental issues

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Questions 23

Answers

1
What country has the least freedom to do business?
Canada
Brazil
Cuba
2
How does having natural resources help the economy of a country?
Companies spend more money because they must buy n.r.
It's able to produce all the goods and services it needs.
Saves money because it doesn't have to import n.r.
Companies can export natural resources w/o creating goods.
3
How does deforestation in Brazil affect the rest of the world?
the world has more oxygen in the air
everybody has more paper
all of the animals have to find homes in other countries
the world has more carbon dioxide in the air
4
How do entrepreneurs help to increase a country's GDP?
working to decrease the amount of goods and services
closing businesses that are making too much money
writing laws to protect property
creating businesses that give people jobs
5
Which trade barrier discourages trade by placing a tax on foreign goods?
quota
subsidy
tariff
embargo
6
What is the money people use in a country called?
exchange
currency
trade
voluntary
7
How does air pollution affect humans in Mexico City?
lung cancer
decreased lung growth
all of these
decreased life expectancy
8
What is the purpose of free trade partnerships like NAFTA?
to allow countries to get needed good without paying
to increase trade by doing away with tariffs
to help countries produce everything they need
to keep countries from trading with Europe or Asia
9
Why is "Entrepreneur" at the top of the diagram?
It's interested in making sure people are well trained.
It organizes all the resources to be successful.
It's first in the alphabet compared to the other words.
It's dependent on other people to be successful.
10
Brazil's rain forest is most threatened by which of these human activities?
drilling for oil
building dams
cutting down trees
draining swamps
11
Which describes a market economy?
The government provides food and housing to all workers.
National businesses are owned by the government.
A person can start any legal business and charge any price.
The government provides telephones and televisions.
12
Which answer shows an explanation of a country with a mixed economy?
A combination of private and government control.
Resources are distributed based on inheritance.
Prices and wages are determined only by supply and demand.
Prices and wages are set by the government.
13
What's the reason for people to exchange currency?
to make money by trading a company
most people want to use American dollars to trade
because different countries have different currencies
14
Which is found in a market economy?
government control of agriculture
competition
guaranteed yearly pay raises
government control of industry
15
Which statement describes the economy of Brazil?
mostly market with some government control
mostly command with some market control
pure command
pure market
16
Which item is an example of a natural resource?
natural gas
education
furnaces
automobiles
17
What's the purpose of a tariff?
the increase the price of exported goods
to increase the price of imported goods for protection
to decrease the price of imported goods for lower costs
18
Brazil is building new factories and using newer technology. These are examples of
investment in capital goods
gross domestic product
investment in human capital
opportunity costs
19
In a Latin American country, the literacy rate is about 49%. Which best shows their investment in human capital?
Investment in human capital lowers GDP
There's greater opportunity for capital investments.
GDP would decrease with more investment of human capital
Low investment in human capital means lower GDP.
20
What is the advantage of specialization?
Workers do not become experts in their job.
Businesses cannot sell as many types of goods.
Factories cannot produce goods as quickly.
A factory can produce more goods in less time less money.
21
Canada and Mexico are similar because lowering trade barriers resulted in both experiencing
economic growth
decreased quality of goods
increased prices of goods
increased unemployment
22
How does investment in capital goods help increase GDP?
It produces more goods at a better price.
GDP goes down.
Companies are able to provide a better place to work.
Highly trained workers are more profitable.
23
Which is an example of human capital?
highways
trucks
education
factories

Latin America 2020-2021 Flashcards | StudBud