Latin America Economics

  A tax on imported goods is a 

• tariff
• quota
• capital
• import 

A quota is a

• restricted trade with another country
• tax put on imported goods
• Limited number 
• profit made by a country over one year

Something that restricts trade with another country is called a(n)

• quota
• embargo
• import
• trade barrier 

An entrepreneur is  

• someone who takes the risk to start a new business
• one that has education and industry
• one that is working on education and industry
• value placed on one's education and skill 

The value placed on one's education and skill is called 

• Developing country
• Capital (goods)
• Human capital 
• Developed country 

What is capital (a capital good)?

• profit a country makes in one year
• anything that stops trade 
• products brought into the country 
• anything used to make money 

The profit a country makes over a given time period, usually a year is called 

• Gross Domestic Product (GDP)
• Economic System 
• Export
• Import 

A developed country is 

• tax on imported goods 
• one that is working on education and industry 
• one that has education and industry
• a profit made by a country in a given period of time 

A developing country is 

• one who has education and industry 
• takes the risk of starting a new business 
• once used, gone forever 
• one working on education and industry 

What is free trade?

• restricted trade with another country 
• The ability to trade with anyone
• anything that is used to make money 
• anything that stops trade