Latin America Government and Economies

What is a "mixed economy"?

• Mix between traditional and command

• A command economy that allows entrepreneurs.

• A combo of command and market

• Mix between traditional and market

The following questions must be asked in order to decide on an economic system:

1. 1.What to produce?

2. 2. How to produce?

3. 3. Who will consume/use products?

• True

• False

Mexico and Brazil have what type of economy?

• Mixed Market Leaning

• Mixed Command Leaning

• Traditional

• Market

Which Latin American country is closest to the Market side of the economic continuum?

• Brazil

• Mexico

• Cuba

• United Kingdom

Which Latin American country falls closer to the Command side of the Economic Continuum?

• Brazil

• Mexico

• Cuba

• United Kingdom

Which of the situations points to a Market leaning economy?

• Prices are controlled by the government.

• Government and citizens work together to ensure economic success.

• Economic wealth is distributed through inheritance.

• The economic decision reflect traditional customs passed on through generations.

What is something Mexico specializes in?

• oil production

• forest products

• meat processing

• gold and diamond mining

Germany charges a special tax on cheese that is brought in from France. What type of trade barrier is this?

• Embargo

• Tariff

• Quota

• Opportunity Cost

Which type of trade barrier did JFK enact in the 1960's against Cuba during the Cuban Missile Crisis?

• Tariff

• Quota

• Embargo

• None of the above

If Canada's government puts a limit on how many cars from Mexico it will import this year, it is imposing which type of trade barrier?

• Embargo

• Tariff

• Quota

• Opportunity Cost