Economic Continuum Quiz

Identify where the economies of Brazil, Cuba, and Mexico lie on the economic continuum between “pure market” and “pure command.”

• Brazil: Pure Market, Cuba: Pure Command, Mexico: Mixed

• Brazil: Mixed, Cuba: Pure Command, Mexico: Pure Market

• Brazil: Mixed, Cuba: Mixed, Mexico: Pure Command

• Brazil: Pure Command, Cuba: Mixed, Mexico: Pure Market

Identify whether the statement describes the Mexican, Brazilian, or Cuban economy.

*Second largest economy in Latin America

*Nationalized oil is a major source of income

*mostly free economy with some government laws and regulations

*workers in the oil industry are government employees

• Mexican economy

• Brazilian economy

• Cuban economy

Mexico, Cuba, and Brazil have mixed economic systems. Which statement explains why these countries' systems are considered mixed?

• The economies both import and export goods and services rather than specializing.

• The government and the operation of supply and demand influence economic decisions.

• The government makes command decisions that prevent the market from running efficiently.

• The economies have a wide variety of industries and produce many different goods and services.

How do the economic systems of Cuba and Brazil differ?

• Consumers and producers have more control over what is produced, how it is produced, and for whom it is produced in Brazil.

• Consumers and producers have more control over what is produced, how it is produced, and for whom it is produced in Cuba.

• Long-standing customs and values mostly determine what is produced, how it is produced, and for whom it is produced in Brazil.

• Long-standing customs and values mostly determine what is produced, how it is produced, and for whom it is produced in Brazil.

Which country has the highest national GDP?

*Brazil - $3.1 trillion

*Mexico - $2.3 trillion

*Cuba - $133 billion

*Belize - $3.1 billion

• Brazil

• Mexico

• Cuba

• Belize

Which country has the highest GDP per capita?

*Colombia - $14,100

*Cuba - $11,900

*Mexico - $18,900

• Colombia

• Cuba

• Mexico

Which country probably has the highest standard of living?

*Belize - GDP $3.1 billion/GDP per capita $8,200

*Cuba - GDP $133 billion/GDP per capita $11,900

*Mexico - GDP $2.3 trillion/GDP per capita $18,900

• Belize

• Cuba

• Mexico

Which nation has the highest literacy rate?

• Brazil

• Chile

• Cuba

Which nation has the lowest literacy rate?

• Brazil

• Cuba

• Mexico

• Nicaragua

Which nation most likely has the lowest standard of living?

• Brazil

• Colombia

• Mexico

• Nicaragua