Latin America: Government and Economics Quiz

Which of these is an accurate example of an embargo occuring in LAM?

What is entrepreneurship?

What are the 3 basic questions that every economic system must answer?

What is a traditional economic system?

Which Latin American country (Cuba, Mexico, Brazil) is the closest to having a pure Market economy?

Which Latin American country’s industries are under the most government control?

Most countries in Latin America have a high GDP and a high standard of living.

How many terms can presidents serve in Brazil?

What is a command economic system?

What is an embargo?

In a democracy, one leader has all the power

which distribution of power decribes cuba?

In Mexico, citizens can begin voting at age 16

Which country has the largest economy in latin america?

Why does international trade require a system for exchanging currencies?

On the economic continuum, Cuba is closest to Command, Mexico is closest to market, and Brazil is in the middle

What is a tarrif ?

What are Capital goods?

What are Natural resources?

What is Human Capital?

High literacy rate = high standard of living

Foreign exchange is Exchanging money with other people in the government?

What is a market economic system?

Which economic system is based on individual choice?

What is bartering and which economic system uses bartering?

How have Brazil, Mexico, and Cuba invested in human capital?

What industry does Mexico specifiy in?

What is a quota ?

Cuba's investment in capital goods is benefiting them

What is a mixed economic system?

Pure market and Pure command economies are real

which distribution of power decribes Mexico and Brazil?