Latin American Economies II

What type of economy answers the three basic economic questions by strict government control of economic decisions?

• command

• traditional

• market

• mixed

What type of economy answers the three basic economic questions based on customs, traditions and beliefs of the past?

• command

• traditional

• market

• mixed

What type of economy answers the three basic economic questions based on supply and demand and the wants and needs of the consumer?

• command

• traditional

• market

• mixed

A mixed market economy that is the 2nd largest economy in Latin America andabout 65% free and 35% government control describes the economy of which Latin American country?

• Mexico

• Cuba

• Brazil

• Venezuela

A mixed market economy that is the largest economy in Latin America and about 53% free and 47% government control and has recently given more control of business to private citizens describes the economy of which Latin American country?

• Mexico

• Cuba

• Brazil

• Venezuela

Which natural resource does Cuba, Brazil, and Mexico all have in common?

• agricultural products

• oil

• silver

• gold

Which Latin American country specializes in automobile production?

• Cuba

• Brazil

• Mexico

• Venezuela

Which Latin American country specializes in agricultural products and produces 80% of the world's orange juice?

• Cuba

• Brazil

• Mexico

• Venezuela

Which Latin American country has the highest GDP per capita?

• Cuba

• Brazil

• Mexico

• Venezuela

Which two Latin American countries have made investments in human capital and capital goods to help make their economies grow?

• Cuba

• Brazil

• Mexico

• Venezuela