Latin America Economics

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Tax on imported goods:

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Tariff

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A quota is a

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Limited number

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Restricts trade with another country:

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embargo

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An entrepreneur is:

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someone who takes the risk to start a new business

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Value placed on education and skill

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Human capital

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Capital good definition

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Anything used to make money.

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Profit a country makes over a year:

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Gross Domestic Product (GDP)

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A developed country is

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one that has education and industry

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A developing country is

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one working on education and industry.

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Free trade definition

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Ability to trade with anyone.