Latin America Economics
Quiz by Yeru Hwang
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- Q1
What are capital goods?
Items used to create other items ex. machines are used to create mirrors
Law making body
People that contribute to the economy ex. Doctors, lawyers, Teachers, ect
30s - Q2
If Brazil wanted to invest in a capital good at a coffee shop, what would be the best investment?
Buying more tables so there would be more customers
Buying an automatic coffee machine to be more efficient
Hiring more staff to serve more customers
Buying a vacuum cleaner to keep the shop cleaner.
30s - Q3
True or False, a Human Capital includes people such as Teachers, Doctors, Lawyers, and Engineers
True
False
30s - Q4
What type of Economy does Brazil have?
A pure market economy
A pure command economy
A command-leaning economy
A market leaning economy
30s - Q5
Which country has a command-leaning economy ?
The US
Mexico
Brazil
Cuba
30s - Q6
What is a traditional economy?
An economy run completely by the government
An economy run completely by the people and supply and demand
An economy where people follow what their ancestors did, uses bartering and trade
30s - Q7
What are the three economic questions?
Why it will be produced, where it will be produced, and whom to sell to
What will be produced, When it will be produced, Where it will be produced
How it will be produced, Whom to sell to, and Why will it be produced
What will be produced, How will it be produced, and Whom to sell to
30s - Q8
What is a pure command economy?
An economy that follows what their ancestors did, uses bartering
An economy run completely by the people
An economy run completely by the government
All of the above
30s - Q9
What benefits the economy of a country?
Lowering the literacy rate
A system of currency or currency exchange
Investing in a human capital
A business
30s - Q10
What are the types of economies?
Democracy, Autocracy, Oligarchy, and Anarchy
Traditional, Theocracy, Market, Mixed
Market, Command, Traditional, Mixed
Market, Command, Mixed
30s