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

Comparing latin american economies

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Page 1: Comparing latin american economies

Comparing Latin American Economies

Mexico, Brazil, & Cuba

Unit 10 Notes

Page 2: Comparing latin american economies

Foreign Exchange Rates

The price of 1 country’s currency compared to another…– 1 US dollar = 11 Mexican pesos– 1 US dollar = 1.8 Brazilian reals– 1 US dollar = .92 Cuban pesos

Page 3: Comparing latin american economies

United Mexican States

Page 4: Comparing latin american economies

3 Economic Questions…What to Produce?– Businesses decide and government approves/denies it

How to produce it?– Businesses decide & government regulates procedures

For whom to produce?– Businesses decide based on supply & demand (price)

Which economic system does Mexico have?…

Page 5: Comparing latin american economies

Mexico’s Economic System

Mexico has a Mixed economic system, that is closer to market than command.

Page 6: Comparing latin american economies

Mexico’s Natural Resources

What’s available?– petroleum, silver, copper, gold, lead, zinc,

natural gas, timber

Page 7: Comparing latin american economies

Mexico’s Land Use

What percentage of the land is arable (capable of being farmed)?– 12.66%

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Mexico’s Industries

What’s 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.

Page 9: Comparing latin american economies

Mexico’s Literacy Rate

What percentage of people over the age of 15 can read and write?– 91%

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

Page 10: Comparing latin american economies

Mexico’s Unemployment Rate

What 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%

Page 11: Comparing latin american economies

Mexico’s GDP

$1.578 trillion (2008)

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

Page 12: Comparing latin american economies

Federative Republic of Brazil

Page 13: Comparing latin american economies

3 Economic Questions…What to Produce?– Businesses decide and government approves/denies

it

How to produce it?– Businesses decide & government regulates

procedures

For whom to produce?– Businesses decide based on supply & demand (price)

Which economic system does Brazil have?…

Page 14: Comparing latin american economies

Brazil’s Economic System

Brazil has a Mixed economic system

Page 15: Comparing latin american economies

Brazil’s Natural Resources

What’s available?– bauxite, gold, iron ore, manganese, nickel,

phosphates, platinum, tin, uranium, petroleum, hydropower, timber

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Brazil’s Land Use

What percentage of the land is arable (capable of being farmed)?– 6.9%

Page 17: Comparing latin american economies

Brazil’s Industries

What’s being produced in the factories?– textiles, shoes, chemicals, cement, lumber,

iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment

Page 18: Comparing latin american economies

Brazil’s Literacy Rate

What 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

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Brazil’s Unemployment Rate

What percentage of people do not have jobs?– 8%

What percentage of people live in poverty?– 22%

Page 20: Comparing latin american economies

Brazil’s GDP

$2.03 trillion (2008)

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

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Republic of Cuba

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3 Economic Questions…What to Produce?– Government makes all economic decisions

How to produce it?– Government decides how to make goods/services

For whom to produce?– Whoever the government decides to give them to

Which economic system does Cuba have?…

Page 23: Comparing latin american economies

Cuba’s Economic System

Russia has a Command economic system

Page 24: Comparing latin american economies

Cuba’s Natural Resources

What’s available?– cobalt, nickel, iron ore, chromium, copper,

salt, timber, silica, petroleum, arable land

Page 25: Comparing latin american economies

Cuba’s Land Use

What percentage of the land is arable (capable of being farmed)?– 27.63%

Page 26: Comparing latin american economies

Cuba’s Industries

What’s being produced in the factories?– sugar, petroleum, tobacco, construction,

nickel, steel, cement, agricultural machinery, pharmaceuticals

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Cuba’s Literacy Rate

What 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

Page 28: Comparing latin american economies

Cuba’s Unemployment Rate

What percentage of people do not have jobs?– 1.8%

Page 29: Comparing latin american economies

Cuba’s GDP

$144.6 billion (2008)

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