Latin America Review

Define economics.

• The study of money and banking systems

• The study of how people choose to use resources

• The study of historical events

• The study of human behavior

Define scarcity.

• Unlimited resources for unlimited wants

• Limited resources for unlimited wants

• Unlimited resources for limited wants

• Limited resources for limited wants

What is the relationship between income and life expectancy?

• Higher income generally leads to lower life expectancy

• Higher income generally leads to higher life expectancy

• Income has no effect on life expectancy

• Lower income generally leads to higher life expectancy

Which economic indicator measures the total value of goods and services produced in a country?

• Inflation rate

• Gini Index

• Gross Domestic Product (GDP)

• Human Development Index

What does the Gini Index measure?

• Economic growth

• Income inequality

• Employment rates

• Inflation rates

Define each of the following terms in your own words. Spatial Inequality

• The unequal distribution of resources and services across different areas or locations.

• The process of urban areas expanding into rural areas.

• The increase in population in urban areas.

• The decline of rural areas due to urbanization.

Define each of the following terms in your own words. Standard of Living

• The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class.

• The process of people moving from rural to urban areas.

• The decline in agricultural productivity.

• The increase in urban population.

Define each of the following terms in your own words. Rural Decline

• The worsening economic conditions in the countryside, including rising unemployment and poverty.

• The increase in urban population.

• The improvement of living conditions in rural areas.

• The expansion of urban areas into rural regions.

Define each of the following terms in your own words. Urbanization

• The process by which cities grow or by which societies become more urban.

• The decline of urban areas due to migration.

• The improvement of rural living conditions.

• The decrease in population in urban areas.

What challenges do farmers face in Mexico’s countryside?

• Lack of access to modern technology and markets.

• Overabundance of resources and labor.

• High levels of urbanization.

• Excessive government support.