Latin America
This trade barrier kept Cuba and the US from trading for over 50 years.
What is an Embargo?
An example of this in Canada is wheat, aluminum, fish and timber.
What is Natural Resources?
Germany is using this trade barrier by limiting the amount of wheat and barley it imports from America.
What is a Quota?
This is the third major economic question, coming after What and How to produce.
What is For Whom to Produce?
Hannah has decided to leave her home country, where the government controls almost all of the production and distribution. She has decided to sell her haircare products from a country that encourages entreprenuership. She is fleeing this system of economy.
What is a Command Economy?
The characteristic that best describes Cuba's economy.
What is Mixed-Command?
By encouraging entrepreneurs to start more businesses, Canada is investing in this.
What is Capital Goods?
The U.K. may encourage this by offering tax breaks to individuals wanting to start a new business.
What is Entrepreneurship?
People in this kind of economy make economic decisions based on customs and tradition.
What is traditional?
Pranav is president of a country where they have stopped the sale of all apples to America, they have put this in place.
What is an Embargo?
This is a way Brazil has invested in Human Capital.
What is providing free public education?
Canada is the country that is closest to having reached this kind of economy.
What is a pure markey economy?
Germany's economy is most like this system.
What is Mixed-market economy?
This factor of economic growth focuses on the value workers bring to the workplace.
What is Human Capital?
Fabian lives somewhere where the government invests a lot of money in the healthcare of it's citizens because they are investing in this.
What is Human Capital?
Cuba has the highest rate of this- which means more people can read.
What is Literacy Rate?
The industry the Canadaian government has the most influence over.
What is Healthcare?
The EU stopped the sale of weapons to Iran. Employing this trade barrier.
This is a focus on a country's economic health of it's citizens.
What is Standard of Living?
Zoey lives on an island where the government and businesses on her island must make difficult decisions about how to allocate limited resources to best satisfy the population's wants. They must prioritize certain goods and services over others, leading to trade-offs and choices- this is called___________.
What is scarcity?
An example of this, is how Mexico focuses heavily on the production of avacado.
What is Specialization?
This is very high in Canada, which leads to citizen happiness and more productivity.
What is Standard of Living?
Russia's government still controls much of it's international trade- making it this kind of economic system.
What is mixed-Command economy?
This is the single most important way the strength's of a country's economy is measured.
What is GDP?
Ella lives in a country where citizens enjoy access to high-quality healthcare services, have opportunities for advanced education, and earn substantial incomes that allow them to live comfortably. She lives somewhere with this.
What is a high standard of living?