All things Trade
No trade because of political reasons.
What is an embargo
Put money in to gain a result later.
What is investment?
The amount of people in a country that can read and write.
What is literacy Rate
Computes, Great Wifi, delivery trucks
Capital Goods
The three questions
What is what to produce? How to produce and for whom to produce it for?
Goods leaving a country
Export
factories, machines, technology
What are capital goods.
Investing in factory is good for a country's
What is GDP?
What consumers buy
Goods
Government Answers the three questions
Command
designed to increase trade between US, Canada and Mexico
What is NAFTA?
A tax on imported goods
Tariff
High Standard of living =
What is high literacy rate?
Population Divided by GDP
GDP per capita
How my ancestors answer the three questions.
Traditional Economy
High poverty is a result of
What is low education
Country with the least freedom to do business
High GDP Characterics
What is high literacy rate, investment in capital goods, human capital
acts or performances whereby the service provider provides value to the customer
Services
Citizens can participate in this type of government
What is a democracy?
A limit on trade
What is a quota?
Gold, copper, forest,
What are natural resources?
Power is separated from the executive branch and legislative branch.
What is a presidential democracy?
factory can produce more goods in less time for less money because their workers know very well how to do a specific job.
What is specialization?
to have a uniform value of currency so they can identify what the value of goods are
What is currency exchange?