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Comparing Latin American Economies

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. United Mexican States. 3 Economic Questions….

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Comparing Latin American Economies

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  1. Comparing Latin American Economies Mexico, Brazil, & Cuba

  2. 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. United Mexican States

  4. 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?

  5. Mexico’s Economic System • Mexico has a mixed economic system, that is closer to market than command.

  6. Mexico’s Natural Resources • What’s available? • petroleum, silver, copper, gold, lead, zinc, natural gas, timber

  7. Mexico’s Land Use • What percentage of the land is arable (capable of being farmed)? • 12.66%

  8. 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.

  9. 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

  10. 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%

  11. Mexico’s GDP • $1.578 trillion (2008) • GDP Per Capita--What is the value of goods and services produced per person? • $14,400 (2008)

  12. Federative Republic of Brazil

  13. 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?

  14. Brazil’s Economic System • Brazil has a mixed economic system.

  15. Brazil’s Natural Resources • What’s available? • bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, uranium, petroleum, hydropower, timber

  16. Brazil’s Land Use • What percentage of the land is arable (capable of being farmed)? • 6.9%

  17. 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

  18. 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

  19. Brazil’s Unemployment Rate • What percentage of people do not have jobs? • 8% • What percentage of people live in poverty? • 22%

  20. Brazil’s GDP • $2.03 trillion (2008) • GDP Per Capita--What is the value of goods and services produced per person? • $10,300 (2007)

  21. Republic of Cuba

  22. 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?

  23. Cuba’s Economic System • Russia has a command economic system.

  24. Cuba’s Natural Resources • What’s available? • cobalt, nickel, iron ore, chromium, copper, salt, timber, silica, petroleum, arable land

  25. Cuba’s Land Use • What percentage of the land is arable (capable of being farmed)? • 27.63%

  26. Cuba’s Industries • What’s being produced in the factories? • sugar, petroleum, tobacco, construction, nickel, steel, cement, agricultural machinery, pharmaceuticals

  27. 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

  28. Cuba’s Unemployment Rate • What percentage of people do not have jobs? • 1.8%

  29. Cuba’s GDP • $144.6 billion (2008) • GDP Per Capita--What is the value of goods and services produced per person? • $12,700 (2008)

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