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Latin America’s Economy
Jeopardy
Vocabulary
Currency Exchange
TradeEconomic Systems
GDP
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2
34
5
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2
34
5
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2
34
5
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2
34
5
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2
34
5
Category 1 for 1
These are examples of economic trade barriers?
Check Your Answer
Category 1 for 1
Answer: Tariffs, quotas and embargos
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Category 1 for 2
These three countries signed the NAFTA?
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Category 1 for 2
Answer: Canada, Mexico and the US
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Category 1 for 3
A person who starts a business is one of these.
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Category 1 for 3
Answer: entrepreneur
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Category 1 for 4Education and
training are examples of this kind of capital.
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Category 1 for 4
Answer: Human Capital
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Category 1 for 5This is the difference
between scarcity and surplus
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Category 1 for 5
Answer: Scarcity is lack of a resource and surplus is more than needed of a resource. Back to the Game
Board
Category 2 for 1This is the definition
of Gross Domestic Product.
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Category 2 for 1Answer: GDP is the total amount
of final goods and services produced in one year within a country.
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Category 2 for 2
This would happen to a country’s GDP if it did not invest in human capital.
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Category 2 for 2Answer: The GDP and
GDP per capita would be lowered.
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Category 2 for 3This would happen to a
country’s GDP if it did not invest in capital goods.
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Category 2 for 3
Answer: The GDP and the GDP per capita would be lowered.
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Category 2 for 4Some examples of
human capital and investments in human capital are __________.
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Category 2 for 4
Answer: people, education for the citizens, health care for the citizens and training of the workforce.
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Category 2 for 5
Some examples of capital goods and investments in capital goods are __________.
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Category 2 for 5Answer: investing in
technology, factories, offices, new means of communicating and needed equipment.
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Category 3 for 1
An example of a traditional economic system in Latin America is ____________Check Your Answer
Category 3 for 1
Answer: A small people group in the Amazon River basin.
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Category 3 for 2
An example of a command economy in Latin America is ___________.
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Category 3 for 2Answer: Cuba
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Category 3 for 3
Two examples of a mixed economy in Latin America are _________.
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Category 3 for 3Answer: Mexico and
Brazil
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Category 3 for 4
Economic decisions in a command economy are made by the ____________.
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Category 3 for 4
Answer: government
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Category 3 for 5
Check Your Answer
The economic systems of Brazil, Mexico and Canada have this in common.
Category 3 for 5Answer: They are all
examples of mixed economies.
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Category 4 for 1
This might be a reason that a country would have to import oil.
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Category 4 for 1
Answer: It lacks the natural resource of oil.
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Category 4 for 2A country that has
many natural resources probably does little of this.
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Category 4 for 2
Answer: Import lots of goods
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Category 4 for 3
This is how a country could limit how many items of a particular product can be imported.
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Category 4 for 3
Answer: Quotas or Tariffs
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Category 4 for 4
A tariff is a tax on _____________.
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Category 4 for 4
Answer: imported goods
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Category 4 for 5In order to prohibit
an item being imported, the government would have a(an) _________ on that item.Check Your Answer
Category 4 for 5
Answer: embargo
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Category 5 for 1This is all other currencies
other than the domestic currency of a specific country.
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Category 5 for 1
Answer: Foreign Currency
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Category 5 for 2This is the price of
one country’s currency in terms of another country’s currency. Check Your Answer
Category 5 for 2
Answer: Currency Rate
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Category 5 for 3
This is the reason that trade is easier between the countries of the European Union than between countries of Latin America.
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Category 5 for 3
Answer: Most countries of the European Union have the same currency, the euro.Back to the Game
Board
Category 5 for 4You would have to
know this in order to find out the value of a product in US dollars if you are in Canada.
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Category 5 for 4
Answer: The exchange rate for US dollars and Canadian dollars
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Category 5 for 5This is why US citizens
cannot use their currency to buy goods or services in other countries.
Check Your Answer
Category 5 for 5
Back to the Game Board
Answer: The currency in the US has a different value from the currency of the other country.
