Economic Systems
An economy where people make goods the same way their ancestors did.
What is a Traditional Economy
The total value of all goods and services produced in a country.
What is GDP
A government where one leader has complete power.
What is an Autocracy?
Materials found in nature that people use.
What are Natural Resources?
This country has a command economy and limited political freedoms.
What is Cuba?
An economy where the government controls what is produced and sold.
What is a Command Economy?
The percentage of people who can read and write.
What is Literacy Rate?
A government where citizens vote for their president.
What is a Presidential Democracy?
Tools, machines, and factories used to make goods.
What are Capital Goods?
Brazil, Mexico, and most countries in Latin America fall under this economy on the continuum.
What is a Mixed Economy?
An economy where businesses and people decide what to produce and sell.
What is a Market Economy?
GDP divided by the population.
What is GDP per capita?
When a government controls what information people can see or say.
What is Censorship?
The skills, education, and training workers have.
What is Human Capital?
One reason many people migrate from Latin America to the United States.
What is to find better jobs or economic opportunities?
Most countries today use this system that combines government and private businesses.
What is a Mixed Economy?
A measure of how comfortable people's lives are, including income, housing, and healthcare.
What is Standard of Living?
A country often used as an example of an autocracy in Latin America.
What is Cuba?
A trade barrier that stops trade with another country, and mention an example of this kind of barrier.
What is an Embargo/ U.S. and Cuba
This country has strong trade connections with the United States through USMCA.
What is Mexico?
On the economic continuum, whose economy is closest to command. Cuba, Mexico, or Brazil.
What is Cuba
A person who starts and runs their own business.
What is an Entrepreneur?
A country in Latin America that is a presidential democracy.
What is Brazil or Mexico?
The agreement between the United States, Mexico, and Canada that replaced NAFTA.
What is USMCA?
This country is the largest economy in Latin America. (Brazil, Cuba, or Mexico)
What is Brazil?