Comparing Latin American Economies Mexico, Brazil, & Cuba Unit 10 Notes

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Text of Comparing Latin American Economies Mexico, Brazil, & Cuba Unit 10 Notes

  • Comparing Latin American EconomiesMexico, Brazil, & Cuba

    Unit 10 Notes

  • Foreign Exchange RatesThe price of 1 countrys currency compared to another1 US dollar = 11 Mexican pesos1 US dollar = 1.8 Brazilian reals1 US dollar = .92 Cuban pesos

  • United Mexican States

  • 3 Economic QuestionsWhat to Produce?Businesses decide and government approves/denies itHow to produce it?Businesses decide & government regulates proceduresFor whom to produce?Businesses decide based on supply & demand (price)

    Which economic system does Mexico have?

  • Mexicos Economic SystemMexico has a Mixed economic system, that is closer to market than command.

  • Mexicos Natural ResourcesWhats available?petroleum, silver, copper, gold, lead, zinc, natural gas, timber

  • Mexicos Land UseWhat percentage of the land is arable (capable of being farmed)?12.66%

  • Mexicos IndustriesWhats being produced in the factories?food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables,

    Tourism is also a major industry in Mexico.

  • Mexicos Literacy RateWhat percentage of people over the age of 15 can read and write?91%

    How long are students required to stay in school?13 years

  • Mexicos Unemployment RateWhat percentage of people do not have jobs?4.1% (however, only 61.1% of people working age have a job)

    What percentage of people live in poverty?18.5%

  • Mexicos GDP $1.578 trillion (2008)

    GDP Per Capita--What is the value of goods and services produced per person?$14,400 (2008)

  • Federative Republic of Brazil

  • 3 Economic QuestionsWhat to Produce?Businesses decide and government approves/denies itHow to produce it?Businesses decide & government regulates proceduresFor whom to produce?Businesses decide based on supply & demand (price)

    Which economic system does Brazil have?

  • Brazils Economic SystemBrazil has a Mixed economic system

  • Brazils Natural ResourcesWhats available?bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, uranium, petroleum, hydropower, timber

  • Brazils Land UseWhat percentage of the land is arable (capable of being farmed)?6.9%

  • Brazils IndustriesWhats being produced in the factories?textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment

  • Brazils Literacy RateWhat percentage of people over the age of 15 can read and write?88.6%

    How long are students required to stay in school?14 years

  • Brazils Unemployment RateWhat percentage of people do not have jobs?8%

    What percentage of people live in poverty?22%

  • Brazils GDP $2.03 trillion (2008)

    GDP Per Capita--What is the value of goods and services produced per person?$10,300 (2007)

  • Republic of Cuba

  • 3 Economic QuestionsWhat to Produce?Government makes all economic decisionsHow to produce it?Government decides how to make goods/servicesFor whom to produce?Whoever the government decides to give them to

    Which economic system does Cuba have?

  • Cubas Economic SystemCuba has a Command economic system

  • Cubas Natural ResourcesWhats available?cobalt, nickel, iron ore, chromium, copper, salt, timber, silica, petroleum, arable land

  • Cubas Land UseWhat percentage of the land is arable (capable of being farmed)?27.63%

  • Cubas IndustriesWhats being produced in the factories?sugar, petroleum, tobacco, construction, nickel, steel, cement, agricultural machinery, pharmaceuticals

  • Cubas Literacy RateWhat percentage of people over the age of 15 can read and write?99.8%

    How long are students required to stay in school?16 years

  • Cubas Unemployment RateWhat percentage of people do not have jobs?1.8%

  • Cubas GDP $144.6 billion (2008)

    GDP Per Capita--What is the value of goods and services produced per person?$12,700 (2008)