Economic Growth Factors
Economic Systems
Random
Mexico, Brazil, and Cuba's Economy
Trade and Trade Barriers
100
A person who took the risk of starting their own business.
What is an entrepreneur?
100
Economic practices are passed down from generation to generation; typically there is no form of currency, instead bartering is used to trade and exchange goods.
What is traditional economy?
100
The total value of all goods and services produced in a country in a year.
What is gross domestic product (GDP)?
100
This country has benefited from the use of lumber from the Amazon Rainforest.
What is Brazil?
100
A complete ban on trade.
What is an embargo?
200
Oil, timber, natural gas, coal, aluminum, gold, silver, etc.
What are examples of natural resources?
200
Industries are owned by the government, and the government decides how the economy functions.
What is command economy?
200
This cartoon represents the economic system based on supply and demand.
What is market economy?
200
This country has the highest GDP and most powerful, market style economy out of our three countries of focus.
What is Mexico?
200
A tax on traded goods.
What is a tariff?
300
Updating the equipment/machinery in a factory.
What is investing in capital goods?
300
Businesses and industries are free to make their own decisions. The economy is based on supply and demand of goods and services.
What is market economy?
300
This political cartoon represents an economic system with strict government control.
What is a command economy?
300
This country has the lowest GDP and the most government control out of our three countries of focus.
What is Cuba?
300
A limit on the number of goods that can be traded.
What is a quota?
400
Improving the level of education, job training, and healthcare in an economy or country.
What is investing in human capital?
400
ALMOST every economy in the world has both command and market elements.
What is mixed economy?
400
Brazil has an abundance of this natural resource.
What is timber/wood/trees?
400
This country's economy is growing, but their GDP is not as high as Mexico's. They are slightly market leaning.
What is Brazil?
400
Trade agreement with the goal of increasing trade between the United States, Mexico, and Canada by allowing free trade.
What is the main purpose of NAFTA and USMCA?
500
Countries focusing their resources/money/time on a small number of products in order to produce the products more efficiently and at a lower cost.
What is specialization?
500
The three economic questions that determine the economic system of a nation.
What is
1. What to produce?
2. How to produce?
3. For whom to produce?
500
The trade barrier that has been placed on Cuba by the United States.
What is an embargo?
500
This country most likely invests the most in their economic growth factors.
What is Chile, Mexico, or Argentina?
500
CONGRATULATIONS YOU EARN A FREE 500 POINTS!
:)