Comparing latinamericaneconomies
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  • 1. Comparing Latin American Economies Mexico, Brazil, & Cuba Unit 10 Notes
  • 2. Foreign Exchange RatesThe price of 1 country’s currency comparedto another…– 1 US dollar = 11 Mexican pesos– 1 US dollar = 1.8 Brazilian reals– 1 US dollar = .92 Cuban pesos
  • 3. United Mexican States
  • 4. 3 Economic Questions…What 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?…
  • 5. Mexico’s Economic SystemMexico has a Mixed economic system, thatis closer to market than command.
  • 6. Mexico’s Natural ResourcesWhat’s available?– petroleum, silver, copper, gold, lead, zinc, natural gas, timber
  • 7. Mexico’s Land UseWhat percentage of the land is arable(capable of being farmed)?– 12.66%
  • 8. Mexico’s IndustriesWhat’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.
  • 9. Mexico’s Literacy RateWhat percentage of people over theage of 15 can read and write?– 91%How long are students required to stayin school?– 13 years
  • 10. Mexico’s Unemployment RateWhat percentage of people do not havejobs? – 4.1% (however, only 61.1% of people working age have a job)What percentage of people live inpoverty? – 18.5%
  • 11. Mexico’s GDP$1.578 trillion (2008)GDP Per Capita--What is the value ofgoods and services produced perperson?– $14,400 (2008)
  • 12. Federative Republic of Brazil
  • 13. 3 Economic Questions…What 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?…
  • 14. Brazil’s Economic SystemBrazil has a Mixed economic system
  • 15. Brazil’s Natural ResourcesWhat’s available?– bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, uranium, petroleum, hydropower, timber
  • 16. Brazil’s Land UseWhat percentage of the land is arable(capable of being farmed)?– 6.9%
  • 17. Brazil’s IndustriesWhat’s being produced in the factories?– textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment
  • 18. Brazil’s Literacy RateWhat percentage of people over theage of 15 can read and write?– 88.6%How long are students required to stayin school?– 14 years
  • 19. Brazil’s Unemployment RateWhat percentage of people do not havejobs?– 8%What percentage of people live inpoverty?– 22%
  • 20. Brazil’s GDP$2.03 trillion (2008)GDP Per Capita--What is the value ofgoods and services produced perperson?– $10,300 (2007)
  • 21. Republic of Cuba
  • 22. 3 Economic Questions…What 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 toWhich economic system does Cuba have?…
  • 23. Cuba’s Economic SystemCuba has a Command economicsystem
  • 24. Cuba’s Natural ResourcesWhat’s available?– cobalt, nickel, iron ore, chromium, copper, salt, timber, silica, petroleum, arable land
  • 25. Cuba’s Land UseWhat percentage of the land is arable(capable of being farmed)?– 27.63%
  • 26. Cuba’s IndustriesWhat’s being produced in the factories?– sugar, petroleum, tobacco, construction, nickel, steel, cement, agricultural machinery, pharmaceuticals
  • 27. Cuba’s Literacy RateWhat percentage of people over theage of 15 can read and write?– 99.8%How long are students required to stayin school?– 16 years
  • 28. Cuba’s Unemployment RateWhat percentage of people do not havejobs?– 1.8%
  • 29. Cuba’s GDP$144.6 billion (2008)GDP Per Capita--What is the value ofgoods and services produced perperson?– $12,700 (2008)