Comparing Latin American Economies Mexico Brazil Cuba Foreign
Comparing Latin American Economies Mexico, Brazil, & Cuba
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 May 2009
United Mexican States
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? …
Mexico’s Economic System Mexico has a Mixed economic system, that is closer to market than command.
Mexico’s Natural Resources What’s available? – petroleum, silver, copper, gold, lead, zinc, natural gas, timber
Mexico’s Land Use What percentage of the land is arable (capable of being farmed)? – 12. 66%
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.
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
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%
Mexico’s GDP $1. 578 trillion (2008) GDP Per Capita--What is the value of goods and services produced person? – $14, 400 (2008)
Federative Republic of Brazil
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? …
Brazil’s Economic System Brazil has a Mixed economic system
Brazil’s Natural Resources What’s available? – bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, uranium, petroleum, hydropower, timber
Brazil’s Land Use What percentage of the land is arable (capable of being farmed)? – 6. 9%
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
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
Brazil’s Unemployment Rate What percentage of people do not have jobs? – 8% What percentage of people live in poverty? – 22%
Brazil’s GDP $2. 03 trillion (2008) GDP Per Capita--What is the value of goods and services produced person? – $10, 300 (2007)
Republic of Cuba
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? …
Cuba’s Economic System Cuba has a Command economic system
Cuba’s Natural Resources What’s available? – cobalt, nickel, iron ore, chromium, copper, salt, timber, silica, petroleum, arable land
Cuba’s Land Use What percentage of the land is arable (capable of being farmed)? – 27. 63%
Cuba’s Industries What’s being produced in the factories? – sugar, petroleum, tobacco, construction, nickel, steel, cement, agricultural machinery, pharmaceuticals
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
Cuba’s Unemployment Rate What percentage of people do not have jobs? – 1. 8%
Cuba’s GDP $144. 6 billion (2008) GDP Per Capita--What is the value of goods and services produced person? – $12, 700 (2008)
- Slides: 33