Latin America Specialization SS6E3

Front

Trade barriers:

Back

Tariffs encourage consumers to buy domestic goods.

Front

Conclusion based on the information:

Back

To improve trade with Brazil, Mexico should specialize in oil production.

Front

Why do countries trade?

Back

Most countries cannot efficiently produce everything their populations need.

Front

Factor classifying economies:

Back

Amount of government involvement.

Front

Factor classifying economies: market, command, mixed?

Back

Amount of government involvement in the economy.

Front

Government controls production factors in which economy?

Back

command economy

Front

Why do countries need a currency exchange system?

Back

To know the value of their money compared to other countries' money for trade.

Front

Quotas help domestic industries by limiting imported goods.

Back

Limits on imported goods.

Front

U.S. embargo on Cuba: What did it mean?

Back

Trade became illegal.

Front

Country X's economy is characterized by government control of production factors.

Back

Command economy.