Because Venezuela produces large amounts of oil and focuses on that export for most of their $,

they are specializing in that export.

Which statement is true?

Investment in education and technology grows the economy.

Because Cuba produces cigars but the U.S. has an embargo on Cuba,

U.S. citizens cannot buy Cuban cigars.

Having natural resources allows a country to

export natural resources which makes money for the country.

How do command economies answer the 3 basic economic questions?

The government makes all decisions.

How do market economies answer the 3 basic economic questions?

Supply and demand guides buyers' and sellers' decisions.

studbud

6th GSE Economics Latin America Canada

17 termsStudBud Administration564 plays

GSE SS6E1-6

Flashcards17 cardsFPractice quizPHost liveL

Questions 17

Answers

1
Understanding currency exchange helps countries
produce more crops
solve environmental issues
trade with other countries
increase trade barriers
2
NAFTA helps which countries trade more easily with each other?
Canada, Cuba, Mexico
U.S., Cuba, Mexico
U.S., Canada, Cuba
Canada, Mexico, U.S.
3
Remote tribes in the Amazon that hunt and farm the way their ancestors did have
traditional economies
market economies
modern economies
command economies
4
If Costa Rica charges a 55% tax on sugar imported from Cuba, that is called
a tariff
a quota
an embargo
a profit
5
Because Venezuela produces large amounts of oil and focuses on that export for most of their $,
they put high tariffs on oil.
they discourage oil trade.
they are specializing in that export.
they limit the amount of oil they export.
6
What do we call economic systems that have both command and market qualities?
traditional
mixed
merged
hybrid
7
Emma uses her money and time to start a business selling purses. Emma is
not paying taxes.
a factory worker.
an entrepreneur.
not taking any risks.
8
Which statement is true?
Investment in healthcare limits economic growth.
Investment in education and technology grows the economy.
Investment in education and technology lowers the GDP.
Investment in education and healthcare lowers the GDP.
9
The higher the literacy rate a country has,
the lower the GDP.
the higher the GDP.
the lower the standard of living.
the higher the unemployment rate.
10
Because Cuba produces cigars but the U.S. has an embargo on Cuba,
Cuba cannot sell cigars to any country.
The U.S. can only import a limited amount of Cuban cigars.
U.S. citizens pay a higher tax for Cuban cigars.
U.S. citizens cannot buy Cuban cigars.
11
Having natural resources allows a country to
not have to import any goods.
produce all the good it needs.
spend more money importing natural resources.
export natural resources which makes money for the country.
12
Countries with high literacy rates usually have
high poverty rates.
high unemployment rates.
high standards of living.
low standards of living.
13
Investment in capital goods results in
increases the unemployment rate.
decreases the GDP.
decreases the standard of living.
increases the GDP.
14
How do command economies answer the 3 basic economic questions?
Decisions are made based on traditions of the past.
Congress makes all decisions.
Supply and demand guide buyers' and sellers' decisions.
The government makes all decisions.
15
Which countries are listed from most command to most market in left to right order?
Canada, Brazil, Cuba
Cuba, Canada, Brazil
Cuba, Brazil, Canada
Brazil, Cuba, Canada
16
What eliminates trade barriers between countries in North America?
NATO
NELLIE
NAFTA
OSHA
17
How do market economies answer the 3 basic economic questions?
Supply and demand guides buyers' and sellers' decisions.
Decisions are based on traditions of the past.
The government makes all decisions.
Congress makes all economic decisions.

6th GSE Economics Latin America Canada Flashcards | StudBud