SEA FINAL REVIEW PT1

What event almost caused a nuclear showdown between the United States and the Soviet Union?

• Cuban Missile Crisis
• Korean War
• Vietnam War
• Berlin Wall Crisis

Which statement BEST characterizes the economies of most Latin American countries?

• Wealth is unevenly distributed among the population.

• The middle class is growing in both wealth and power.

• Exportation of manufactured goods drives foreign trade.

• People are able to freely start businesses and earn profits.

Felipe's country has a mixed economy. It is closer to the command side of the economic continuum than the market side. Which of the following is MOST LIKELY true in Felipe's country?

• Felipe's country has a barter economy with no currency.
• The government has no involvement in the economy of Felipe's country.
• There is complete laissez-faire capitalism in Felipe's country.
• The government heavily regulates the economy and limits private investment.

An economic system in which the government makes all the economic decisions.

• Market economy
• Command economy
• Traditional economy
• Mixed economy

A product that a country is good a making fast and for cheap

• Embargo

• Quota

• Tariff

• Specialization

The rate of a countries ability to read and write

• Literacy percentage
• Literacy rate
• Education rate
• Reading rate

An economic system that makes decisions based on tradition, things are made by hand a lot of the times and methods are passed down from generation to generation.

• Customary Economy
• Hereditary Economy
• Ancient Economy
• Traditional Economy

An economic system in which decisions are made by individual buyers and sellers in a marketplace

• Command economy
• Mixed

• Market

• Traditional

Which type of trade barrier adds a tax to goods brought into a country

• Subsidy
• Quota
• Embargo
• Tariff

Putting a limit on the number of cars imported from other countries is an example of __________________

• Quota

• Free trade
• Globalization
• Deregulation