Post on 13-Jun-2015
Comparing Latin American Economies
Brazil, & Cuba
Unit 10 Notes
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
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?…
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 per 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 per person?– $12,700 (2008)