Latin America Economics

Front

Which is NOT a question every country must answer when developing an economic plan? Options: Why do people have to consume these goods/services?, Who will consume the goods and services?, How will the goods/services be produced?, What goods and services will be produced?

Back

Why do people have to consume these goods/services?

Front

This system answers the 3 economic systems' questions based on traditional customs and beliefs of the past.

Back

traditional

Front

Which gov't economic system reflects the values and traditions and how they've been passed down from generation to generation?

Back

traditional

Front

What system do these characteristics fall under?
*strict governmental control
*Gov't regulates ALL of the economic decisions.

Back

command

Front

This system is harsh to live under because of this, there are NO pure command countries in the world.

Back

command

Front

This system answers the three economic questions based on SUPPLY and DEMAND.

Back

market

Front

In which system does the government have no control over the economy, and private citizens answer all the economic questions?

Back

market

Front

Since there are really no countries with either a "pure command" or "pure market economy," it makes them........

Back

mixed

Front

Most countries in ______________have mixed economies, however some of them have a high level of gov't involvement that leans closer to command than market.

Back

Latin America

Front

Mexico has a mixed economic system that is about ____________________.

Back

65% free and 35% command