Unit 7 Latin America Economy Review

What type of economy does Cuba have?

• Mixed

• Market

• Command

What type of economy does Brazil and Mexico have?

• Market

• Mixed

• Traditional

• Command

In this economic system, small communities and tribes hunt and farm in the same ways their ancestors did hundreds of years ago. They barter among themselves or with other small communities for things they cannot make for themselves.

• Traditional

• Market

• Mixed

• Command

What was created to increase trade and eliminate tariffs?

• NASA

• NAFTA

• WTO

• EU

What is the relative health, skills, education, and training of a nation's labor force?

• Human Capital

• Capital Goods

• Standard of Living

Which economic system is combination of market and command?

• Traditional

• Mixed

Which trade barrier blocks all trade between nations?

• Embargo

• Tariff

• Quota

What kind of economic system does Cuba have?

• Market

• Mixed

• Traditional

• Command

Who answers the three basic economic questions in a command economy?

• Private businesses

• Entrepreneurs

• Government

Which trade barrier charges a tax on imported goods?

• Tariff

• Embargo

• Quota

• Specialization