Show:
NAFTA
Trade Barriers
Economic Systems
Factors of Production
General Economy
100
countries of NAFTA.
Who are Mexico, Canada, and the United States?
100
tariff, quota, & embargo
What are economic trade barriers?
100

located between a market and command economy on the economic continuum.

What is a mixed economy?
100
the four factors of production
What are natural resources, human capital, capital goods, entrepreneur?
100
citizens 15 years or older who are able to read and write
What is the literacy rate?
200
to increase trade by eliminating tariffs.
What is the primary goal of NAFTA?
200
a limit placed on imported goods.
What is a quota? 
200
what to produce, how to produce, and for whom to produce
What are the three basic economic questions?
200
Staci owns and operates a candy store. 
What is an entrepreneur?
200

the degree of wealth and material comfort available to a person or community

What is standard of living?
300
increased job opportunities in maquiladors along the US/Mexico border
What is an effect of NAFTA (once it started)?
300
causes the cost of imported goods to increase.  


(this cost is passed along to consumers, so the price of imported goods is higher) 

What is a tariff?
300
creates competition
What is a market economy?
300
A sixth grade class decides to sell popcorn.  The popcorn popper and stand are needed for them to produce the popcorn.  
What are examples of capital goods?
300

the amount of money a country earns from the goods and services produced in a year


What is Gross Domestic Product (GDP)?
400
the promise of a better life
What is the reason workers left their homes in southern Mexico to find jobs in maquiladors in northern Mexico?
400
embargo implemented by the United States

What the United States placed on Cuba after Castro took control of American businesses in the country?  

400
another name for a centrally-planned economy, where the government controls all industries.
What is a command economy?
400
Jennifer opened a lemonade stand.  In order to produce lemonade, Jennifer will need ice, water, lemons, and sugar.  These are known as _______________.
What are natural resources?
400

Raising the GDP of the country can mean a higher standard of living for the people in the country. To increase GDP, countries must invest in_______. This resource includes education, training, and health of the workers.  

What is human capital?
500
increase job opportunities, improve working conditions, improve living standards, and protection of workers' rights.
What are the promises NAFTA made to Mexican workers?
500
leads to an increase of trade between countries
What is the elimination of trade barriers?
500
Bobby's father and grandfather were farmers, they lived in a remote village in Peru. Once Bobby turned 16 he also began to farm to help his family get the resources they needed.  Soon, Bobby's younger brother will be old enough to join him and together they will pass their techniques down to their children.
What is an example of a traditional economy?
500

Amy just got a new job, she is the quality control manager at Ajax Industries. Her manager trains her to use the computer program that helps to maintain production effectiveness. By learning how to use this program Amy can make sure Ajax Industries is up to code.

What is an example of human capital?

500

The United States is well-known for making some of the best chocolate. In fact, people travel from all over the world to taste this unique chocolate. The chocolate is traded globally because consumers can't purchase it anywhere but in the United States. 

What is specialization?