Types of Government
One person holds all the power.
What is an autocracy?
DOUBLE POINTS
Business supply and citizen demand answer the three economic questions.
Market Economy
When a country focuses on producing a limited number of goods.
Specialization
New factories and machines are examples of this.
Capital Goods
DOUBLE POINTS
This government has compulsory (mandatory) voting.
Brazil
DOUBLE POINTS
Citizens elect leaders to represent them.
What is a democracy?
The government decides what to produce and how to produce it.
Command Economy
DOUBLE POINTS
The U.S. used this type of trade barrier against Cuba in the 1960s.
Embargo
Manuel creates a mobile dentist office to serve rural towns. He is this.
Entrepreneur
DOUBLE POINTS
This country has one political party.
Cuba
In this form of Democracy, the head of government is chosen by elected lawmakers (Legislature).
Parliamentary Democracy
This economic system is a combination of market and command elements.
Mixed Economy
What is the difference between an import and an export.
Imports are entering a country while exports are leaving a country.
DOUBLE POINTS
These two countries invest in building factories and new technology to grow their economies.
Mexico and Brazil
Brazil’s economic freedom score is higher than Cuba’s. This means Brazil has MORE or LESS government regulation.
Less
Two of the countries we have learned about are Presidential Democracies, what are they?
Mexico and Brazil
DOUBLE POINTS
In this economic system, cultural traditions determine production.
If Mexico places a quota on imported steel, what happens to the amount of steel coming into the country?
The amount of steel would decrease/there would be a limit on it
Education and job skills are examples of this.
Human Capital
This country has a high literacy rate but struggles economically under a command system.
Cuba
In Cuba there is a president who is appointed by a single political party.
What is the political party called?
Cuban Communist Party
Mexico’s economy is best described as this because most businesses are private but the government owns some industries.
Mixed Economy
Which group of people (indigenous farmers) opposed NAFTA/USMCA. They rebelled against the Mexican government when NAFTA was signed, and have openly criticized USMCA.
Zapatistas
Usually, countries with high literacy rates also have higher GDP and standard of living. Cuba also has a high literacy rate. Why doesn’t Cuba follow this pattern?
Although they have a high literacy rate, Cuba's communist government/low economic freedom score gives them a lower standard of living and GDP.
Brazil has more economic freedom than Cuba.
How does this likely affect entrepreneurship in the two countries?
What is Brazil likely has more entrepreneurs because there is less government control?