Comparing Latin American Economies Mexico, Brazil, & Cuba.
Transcript of Comparing Latin American Economies Mexico, Brazil, & Cuba.
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Comparing Latin American Economies
Mexico, Brazil, & Cuba
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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
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United Mexican States
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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?
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Mexico’s Economic System
Mexico has a mixed economic system, that is closer to market than command.
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Mexico’s Natural Resources
What’s available?– petroleum, silver, copper, gold, lead, zinc,
natural gas, timber
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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.
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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
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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%
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Mexico’s GDP
$1.578 trillion (2008)
GDP Per Capita--What is the value of goods and services produced per person?– $14,400 (2008)
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Federative Republic of Brazil
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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?
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Brazil’s Economic System
Brazil has a mixed economic system.
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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%
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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
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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%
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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?
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Cuba’s Economic System
Russia has a command economic system.
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Cuba’s Natural Resources
What’s available?– cobalt, nickel, iron ore, chromium, copper,
salt, timber, silica, petroleum, arable land
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Cuba’s Land Use
What percentage of the land is arable (capable of being farmed)?– 27.63%
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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
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Cuba’s Unemployment Rate
What percentage of people do not have jobs?– 1.8%
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Cuba’s GDP
$144.6 billion (2008)
GDP Per Capita--What is the value of goods and services produced per person?– $12,700 (2008)