LA Government
What type of government system do we have in Cuba?
Communist State
What are the three basic economic questions?
What to produce, how to produce? and for whom to produce for?
What can a literacy rate tell us about a country?
the amount of people in a country over the age of 15 that can read and write
**Daily Double**
What is the Life Expectancy of people in the country of Mexico?
Life expectancy total population: 75.43 years
What does NAFTA stand for?
North American Free Trade Agreement
**Daily Double**
What government system elects their chief executive every 6 years?
Mexico
What answers the three basic economic questions in a Market economy?
Producers and consumers (buyers and sellers)
**Daily Double**
What is the currency referred to as Cuba?
Cuban Peso
What answers the three basic economic questions in a traditional economy?
Traditions and Customs
What government system in Latin America requires you to vote between the ages of 18 - 70?
Brazil's government
In Cuba Canidates who run for chief executive need to be approved by who before citizens may vote?
Cuba's Communist Party
**Daily Double**
What tool is used to describe how much government control an economic system may have in its economy?
Economic Continuum
How does specialization affect trade?
Specialization affects trade by countries exporting what they specialize in, and importing what they struggle to produce.
What was the main purpose of the NAFTA Agreement?
increase trade by creating largest free trade zone
is a unique civilization in South America. Most of the people living in this society are farmers, who grow all of the crops and raise the animals that they need. There is no formal currency and there is rarely a need for trade outside of their community. Instead, families barter for what they need by exchanging the products they produce. Mary’s family gets the food they need by exchanging the unique wool quilts they make. Mary’s parents taught her how to make these wool quilts and she will teach her children this skill as well.
What type of economic system do you believe is being described in the scenario above?
Traditional economy
What type of legislature does Cuba have, what is it called?
Unicameral
National Assembly of People’s Power
“Hey, Tina! Have you heard the news? Sprint is now selling the latest Samsung Galaxy phone to compete with the iPhone X. Now I don’t know which phone I’m going to buy!” said Lisa.
What kind of economic system is being described?
Market Economy
What is an exchange rate?
the rate at which one currency is exchanged for another
“Well, I guess it’s oat flakes again . . .” said Denise’s mom while shopping at the local grocery store. “It’s a shame that the government has a role in deciding the kinds of foods we have to choose from. It’s not fair that there are only two kinds of cereal to choose from, oat flakes or corn puffs. They both taste nasty . . .” said Denise.
What kind of economic system is being described?
Command Economy
**Daily Double**
What does the term "Standard of Living" mean?
the level of income, wealth, material goods and services available to an area or population.
What are the names of the two houses of legislature in the government of Brazil?
Federal senate and the chamber of deputies
Country x: In Country X business owners make the most economic decisions as long as they follow fair trade policies set by a federal government agency. Business owners can decide what to produce, how to produce, and for whom to produce without too much government intervention. These decisions are made by business owners based on the demand for products and government regulations. For example, a phone company recently developed an updated version of their phone but decided to wait until closer to the holidays to release the phone to the public. This is because it believed the demand would be higher for consumers and would allow the company to charge a higher price for the phone.
What type of economic system is Country B?
Mixed Economy
**Daily Double**
What does the country of Mexico specialize in?
Mexico specializes in automobile production, which is one of its biggest industries.
What is the literacy rate for the total population of people in Haiti?
Total population: 52.9%
**Daily Double**
Which problem did many Americans believe would result from NAFTA?
That American Factories would close, and workers would lose jobs.