LA Economics
When a country focuses on industry that they can produce well and efficiently is an example of this.
What is specialization?
Scenario: Country 1 places a ban on tennis shoes from Country 2; meanwhile, Country 2 has no one to export tennis shoes to.
What is an embargo?
Mexico, United States, and Canada
What are the three countries joined by NAFTA?
True or False: One reason for Latin America's high poverty rate is the lack of high quality and high skilled jobs.
What is true?
A purpose and function of NAFTA is to promote increased _________ between the three countries involved.
What is trade?
This country specializes in the production of automobiles.
NAFTA eliminates these types of trade barriers.
What are tariffs?
Benefit or Drawback of NAFTA: All members have free trade agreements.
What is a benefit of NAFTA?
Thousands of people die each year in the illegal drug trade in Latin America is called this.
What is narco-terrorism?
True or False: In an area where illegal drug production, trade, and trafficking are high, it is common to find an increase drug related crimes and damage to natural resources.
What is true?
This country specializes in sugar and tobacco.
What is Cuba?
Sending money or checks to a recipient at a long distance.
What is a remittance?
Benefit or Drawback of NAFTA: jobs based in one country are moved to another country because of lower workers salaries.
What is a drawback of NAFTA?
True or False: One reason for Latin America's high poverty rate is that the region does not have enough citizens to maintain the amount of jobs available.
What is false?
The process by which a citizen of one country may become a legal citizen of another country.
What is naturalization?
This country specializes in coffee.
What is Brazil?
To discuss a topic again to make a change to an original agreed upon plan.
What is renegotiate?
To increase trade and jobs in all three major North American countries.
Why was NAFTA created?
What is a cartel?
The possibility for higher wages in the United States may be a reason for increased Mexican _____________.
What is immigration?
An investment in education of a country's citizens.
What is Human Capital?
The illegal smuggling of people or products (especially drugs or weapons).
USMCA includes these three countries.
What are Mexico, United States of America, and Canada?
In an effort to escape the drug wars and lack of job opportunities forces many Latin Americans to choose to LEAVE their homes is an example of this.
What is migration?
These are the three main modern issues for Latin America.
Poverty, war on drugs, migration
acceptable: narco-terrorism and immigration