Economic Systems in Latin America

Front

The economies of Mexico and Brazil can best be described as...

Back

Mixed

Front

Why are most economies referred to as mixed economies?

Back

most countries have aspects of both market and command economies

Front

Which Latin America economy has the most FREE (from government control) mixed economy?

Back

Mexico

Front

Which of the following would reflect Mexico's mixed economy?
Options:
prices and wages are solely regulated by the country's government,
a combination of privately owned businesses and government regulation,
the country's distribution of resources is based on inheritance,
all economic decisions are based on customs and beliefs of ancestors

Back

a combination of privately owned businesses and government regulation

Front

Which characteristic best describes Brazil's economy? Options: Market-leaning, Traditional, Command-leaning, Pure Market

Back

Market-leaning

Front

The United States charges special taxes on Mexican avocados and citrus brought across the US/Mexican border. What type of trade barrier is this?

Back

tariff

Front

The United States and Cuba have not been trade partners for 50 years because of which trade barrier?

Back

embargo

Front

If Brazil's government puts a limit on how much Mexican oil it will import this year, it is imposing which type of trade barrier?

Back

quota

Front

What is a main reason for people to exchange currency (money)?

Back

to buy and sell goods and services with other countries

Front

Which factor of production is represented in the chart? Options: entrepreneurship, human capital, capital goods, natural resources

Back

natural resources