export/import
How much USD$ does Costa Rica spend or receive in Import-export?
(two separate answers, must be within .5 billion range)
import 10.3 billion USD
export 10.8 billion USD
What is the currency exchange of 10$ USD to Colónes ć
The correct answer is: 5781 ć
Below 5999 and above 5500 will be accepted.
the exchange rate is actually 578.13 per U.S. Dollar
What is the single greatest factor of the CostaRican local economy?
Tourism
what is "Zona Franca" in the business culture of Costa Rica?
Free Zones are a class of special economic zone designated by the trade and commerce administrations of various countries including Costa Rica.
The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity.
what is the name of the former us ambassador to Costa Rica
Anne Andrew
Name 3 of the 6 biggest imports of Costa Rica
(be as general as possible)
Oil, transportation, Chemical products, Machines, Metal, plastic and rubber
Name 5 of the 11 trade partners of Costa Rica
(note: Costa Rica ONLY HAS 11 legal trade partners)
The United States, El Salvador, Guatemala, China, Germany, Netherlands, United Kingdom, France, Italy, Mexico, and Canada.
What is the unemployment rate of Costa Rica?
8.13%
(Accepted range 8-9%)
Describe "Tico business culture"
Ticos (Costa Ricans) are globally known for being friendly, peaceful and generally relaxed; such characteristics are also prevalent in the business culture.
how many tourists come to Costa Rica each year
over 1 Million
Name the 3 of the 5 biggest exports of Costa Rica
Bananas, Tropical fruit, Medical instruments, Orthopedic appliances, and Semiconductor devices
What caused the Colone to be devalued?
when entering a free economy Costa Rica strategically devalued the local currency intentionally. As to combat a trade imbalance, meaning Costa Rica can reduce its deficit because of the strong demand for cheaper exports.
What is the poverty rate of CostaRica?
(what percent of Costa Ricans live in poverty)
21%
Answers above 19% and below 23% will be accepted
What is the benefit of having a weak currency?
(Colonés compared to USD)
A weak currency may help a country's exports gain market share when its goods are less expensive compared to goods priced in stronger currencies. The increase in sales may boost economic growth and jobs while increasing profits for companies conducting business in foreign markets.
What industry consists of call centers and customer service?
the Service industry
What is the most valuable IMPORT of Costa Rica?
A. Refined petroleum
B. Machines
C. Transportation
D. Chemical products
the correct answer is:
B. Machines
Accounting for 17% of Costa-Rica's total 10.3 billion USD spent on imports. Refined petroleum 15%. Transportation 9.8%. Chemical products 11%
DR-CAFTA is an acronym for what?
and what did it accomplish?
Dominican Republic-Central America Free Trade Agreement.
A treaty that seeks the creation of an area Free trade between signatory countries.
What is the KEY factor or cause of poverty in Costa Rica?
the biggest factor: Income inequality
The top 20% of earners make an average of $4,650 per month, while the bottom twenty percent make only $360. In other words, wealthy Costa Ricans are making nearly 13 times as much money as poor Costa Ricans.
Why is having a weaker currency a disadvantage?
A weaker currency also raises profit margins of the exports and likely to make them complacent which may result in higher cost and cost-push inflation. A weaker currency may also increase trade deficit if the price elasticity of net exports is less than unity.
How much aid has America given Costa Rica
$1.6 billion USD
What is the most valuable Export of Costa Rica?
A. Pineapples
B. Coffee, Tea, and Spices
C. Bananas
D. Medical instruments
Correct Answer is:
C. Bananas
Bananas alone make up 16% of the total export income for Costa-Rica. Pineapples come as a close second as 14% of the total export income. Coffee is 3% and medical instruments are 11%.
Is Costa Rica considered a third world country?
(Y/N)
consider the concept of first second and third world nations before you answer.
correct answer: Yes
Although Costa Rica has a stabilized economy.
The term "Third World" has been used interchangeably with the term “Underdeveloped Countries” which does not fit the actual definition.
according to the original concept: "First World" countries are worldly powerhouses in political, economic, or military. "Second World" countries are allies to the powerhouse nations. "Third World" countries with non-aligned movement or progress.
How is the economy of Costa Rica more stable and more prosperous in comparison to the nation's neighbors?
Nearly 20 percent of Costa Rica’s GDP goes toward social spending.
Because of this, the Costa Rican economy has boomed. The infant mortality rate has decreased, while healthcare and sanitation have improved
(will accept the answer: welfare program and some tax-related answers)
What city is the business capital of Costa Rica?
Correct Answer is San José
what is the biggest tourism appeal?
eco tourism