Economy
What does the word economy mean?
Money/Wealth
What is a democratic government?
free election government that put new political parties into power
Free Trade
economic policy that doesn't try to limit exports or imports
To build a relationship with Cuba. To start allowing people to travel to/from US to Cuba and building business relationships.
Setting wages, prices, and production quotas
What type of government does Cuba and Venezuela have?
Communist
Tariffs
taxes on imports
Fidel Castro
Which country adopted a free market economy?
Mexico
What is a Dictatorship?
all decisions made by one person/ one person has all the power within a government
Exports
to send goods
what does the term infrastructure mean?
roads, telecommunications, and electric power plants
How has free trade allowed Latin American country to do better economically?
What is a communist government?
All economic decisions are made by the government
Imports
to receive goods
Why did the citizens want to get rid of Chavez?
They believed he was leading the country back into dictatorship?
What are 2 ways Latin American countries have helped grow the economy?
Investing in Education
Factories
What are the names of Latin America's economic systems?
primary sector, secondary sector, tertiary sector
Subsidies
taxes on exports
What products were made in Maquiladores to grow Latin America's economy?
automobiles, electronic devices, and clothing