Latin America Economics Vocab

Front

Economic system where the government controls production and distribution.

Back

Command Economy

Front

People who buy goods and services in an economy

Back

Consumer

Front

Money used as a means of exchange

Back

Currency

Front

Trade barrier where nations refuse to trade with others.

Back

Embargo

Front

A person or people who take risks to combine resources and skills to produce goods/services for profit...

Back

Entrepreneur

Front

Economic system with private ownership where buyers and sellers determine economic questions.

Back

Market Economy

Front

Description of economies with a mix of command and market systems.

Back

Mixed Economy

Front

People who create goods and services in an economy...

Back

Producer

Front

A trade barrier where a government imposes a tax to import certain products.

Back

Tariff

Front

Trade barrier with limits on product imports.

Back

Quota