Comparing Latin American Economies Mexico, Brazil, & Cuba

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Text of Comparing Latin American Economies Mexico, Brazil, & Cuba

Comparing European Economies

Comparing Latin American EconomiesMexico, Brazil, & Cuba

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 pesosUnited 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 SystemRussia 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)