Latin America Economy

What type of economy is Cuba closest to?

• Command

• Market

• Traditional

What type of economy is Mexico and Brazil closer to?

• Command

• Market

• Traditional

Limited availability of resources/not enough of something.

• Goods
• Services
• Scarcity
• Available

Something you would like to have but do not need.

• Scarcity
• Available
• Want
• Need

Something you have to have to survive!

• Scarcity
• Available
• Want
• Need

The amount of an item that someone has to sell.

• Need
• Supply
• Demand
• Import

The amount of an item that consumers are willing to buy at different prices.

• Need
• Supply
• Demand
• Import

Goods from a foreign country brought into a country for use or sale.

• Need
• Supply
• Demand
• Import

Goods and services sold by producers in one country to buyers in another country.

• Exports
• Imports
• Consumer
• Demand

A person who makes goods or products to sell.

• Producer
• Consumer
• Export
• Import