Economic Systems
Type of economic system based on agricultural societies where people produce what they need to survive by farming or hunting or gathering
traditional or market economy
What is traditional economy?
The percentage of people in a given age group who can read or write
literacy rate or gross domestic product
What is literacy rate?
When someone focuses on a specific work or production
specialization or tariff
What is specialization?
A form of government where one person has complete power over a country
democracy or autocracy
What is autocracy?
Type of government in Cuba when Fidel Castro was the leader
democracy or autocracy
What is autocracy?
The government controls what is produced and how it is produced.
market economy or command economy
What is command economy?
The level of comfort, necessities and luxuries a person has access to
religion or standard of living
What is standard of living?
Restrictions on the amount of a good that can be imported
currency or quota
What is quota?
The legislature controls the power. The majority party in the legislature forms a government headed by a prime minister, who is chosen by the legislature
presidential democracy or parliamentary democracy
What is parliamentary democracy?
Jose lives in Chile. When he turns 18, Jose will register to vote. The leader of his country is elected by the citizens and serves a four year term.
presidential democracy or parliamentary democracy
What is presidential democracy?
A country's economic decisions are based on what people want to buy and sell. People can own their own businesses and produce what they want.
Command economy or market economy
What is market economy?
The process of starting a business, taking risks, and working hard to make it successful
entrepreneurship or literacy rate
What is entrepreneurship?
Forbid trade with another country
currency or embargo
What is embargo?
The executive and legislative branches are separate bodies elected independently by the citizens. The president answers to the voters not the legislature. The people elect the president.
presidential democracy or parliamentary democracy
What is presidential democracy?
Karina lives in the United Kingdom. King Charles has been on the throne since 2022. His main duties include entertaining visiting foreign leaders and appearing at important ceremonies. Once Karina turns 18, she can vote in elections for parliament.
constitutional monarchy or dictatorship
What is a constitutional monarchy?
The type of economic system in Cuba or the former Soviet Union. The government is heavily involved. For example, to make toilet paper the government made many decisions. One result was that there were constant shortages of products.
What is command economy?
Literacy Rates
Honduras 88%
Guatemala 83%
Mexico 98%
The country listed above that most likely has the highest standard of living
What is Mexico?
Not a natural trade barrier
tariffs or mountains
What are tariffs?
Democratic system where the legislature has more power
What is parliamentary democracy?
Similarity in Mexico and Brazil's governments
Both are presidential democracies or both are parliamentary democracies
What is both are presidential democracies?
Person who satisfies a want or need by buying a good or service
consumer or producer
What is a consumer?
Tourism is an important part of Cuba's economy. This will be the impact of ending the United States' travel ban to Cuba.
increase of tourists to Cuba or decrease of tourists to Cuba
What is increase of tourists to Cuba?
The quality and flavor of a cigar depends on where the tobacco is grown. Cuban cigars are famous for being the best. This is an example of _________.
specialization or tariffs
What is specialization?
Type of government where the citizens have the most power
monarchy or democracy
What is democracy?
The citizens that have the right to vote for the leader of the country in an absolute monarchy.
What is none?