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Latin America Economics

Quiz by Yeru Hwang

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10 questions
Show answers
  • 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

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