Good Mafternoon! 4/1/14EQ: What do the economies of Mexico, Brazil and Cuba in common? How are

they different? HW: Study Guide #1-10

SPONGE1.Pick up a handout from (blue tray) glue on page 69.2.Update your TOC3.On page 68 begin creating a word splash around the word “economics" (need a reminder of how to do it- look at page 67)

DateDate ## Title Title 4-1 68 Econ Wordsplash4-1 69 LA- Economies of Mex, Cuba, Brazil4-1 70 Study Guide

Economics

Line of Continuum Directions1. Read each Economic situation and

determine where you think the countries fall on the line of continuum

2. Individual3. use PENCIL

Remember WHISPER

Mexico, Brazil, & Cuba

Unit 8/9 Notes

Comparing Latin American

Economies

• How many basic types of economic systems are there?

• 33• Name the economic systems. • mixed, Command, Marketmixed, Command, Market• Which economic system is the most common

throughout the world? • Mixed. Mixed.

Economic Continuum • A group of financial experts set up a

rating system to help us understand how much command and market each country has in it.

• This Index of Economic Freedom gives each country a number that can be plotted on a economic continuum.

The United States has an Economic Freedom number of 77.6. Since this number is closer to the market side of the continuum, we label the U.S. as a Mixed-Market Economy.

• Now, lets compare the economies of Brazil, Mexico, Canada, and Cuba!

Federative Republic of Brazil

How does Brazil answer the 3 Economic Questions?

• What to Produce?– BusinessesBusinesses decide and government approves/deniesgovernment approves/denies

it• How to produce it?– Businesses decide Businesses decide & government regulates government regulates

procedures• For whom to produce?– BusinessesBusinesses decide based on supply & demand (price)

• Which economic system does Brazil have?Mixed-MarketMixed-Market

United Mexican States

How does Canada answer the 3 Economic Questions?

• What to Produce?– BusinessesBusinesses decide • How to produce it?– Businesses decide Businesses decide & government regulates government regulates

procedures• For whom to produce?

– BusinessesBusinesses decide based on supply & demand (price)

• Which economic system does Mexico have?Mixed-MarketMixed-Market

Republic of Cuba

How does Cuba answer the 3 Economic Questions?

• What to Produce?– GovernmentGovernment makes all economic decisions

• How to produce it?– GovernmentGovernment decides how to make

goods/services• For whom to produce?– Whoever the government decides government decides to give

them to

• Which economic system does Cuba have?CommandCommand

Economic

Systems

PureMarketPure

Command

Cuba28%

Brazil57%

Canada81%

Australia82%

Mexico67%

USA77%

Let’s Review!1. What are the 4 economic systems? • Traditional, Market, and CommandTraditional, Market, and Command2. Which Latin American country has a command economy? • CubaCuba2. Which two Latin American countries have a Mixed-market

economy? • Brazil and MexicoBrazil and Mexico3. Who makes the economic decisions in a command economy?1.1. The governmentThe government2. What are the 3 economic questions that every country must

answer? 3.3. What to produce? How to produce? and For whom to What to produce? How to produce? and For whom to

produce?produce?• What type of economy do most democratic countries have?2.2. Mixed-MarketMixed-Market

Study Guide Directions1. 10 Seconds to choose a partner (someone

you haven’t worked with this year)2. Using your resources complete your

study guide. Coachbook pages 66-86 Weebly notes BYOT

Remember WHISPER

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…•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 per 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 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)

Government Scenarios

Scenario 1-Since its 1988 constitution, Brazil has divided its country into twenty-six states and a central government district. The states are then broken into over 5,500 municipalities, which are like counties. All these political units have a local government that has its own laws and taxes. Brazilians vote for representatives at each level. The central government will not allow any states or municipalities to be independent or break away from the country’s national government.

Scenario 2-For only three years beginning in 1836, the

countries of Bolivia, North Peru, and South Peru attempted a government system in which the three countries created a loose union that shared power as well as ruled themselves. Neighboring countries, including Argentina and Chile, were alarmed about this new government and a war followed that ended this shared government system between Bolivia and Peru.

Scenario 3-Established in 1993, the European Union (EU) is an economic and political union of twenty-seven independent countries, or member states, which has a foundation from the European Economic Community. The EU has allowed a single free trade market where all member states are guaranteed freedom of movement of people, goods, services, and capital. Most EU countries have adopted a common currency, called the euro. While it is governed by the EU Commission and Parliament over the union’s common interests, each country still controls its independently-run government.

Scenario 4-Costa Rica is a peaceful, democratic republic where power is only given by the central government, based in San Jose, the capital city. The seven provinces have leaders, but the laws and taxes of the central government have full control over the regional division.

Scenario 5- Since its 1917 constitution, Mexico has had a central government based in its capital, Mexico City, and thirty-one states that also have their own state governments. Citizens vote for their representatives on three government levels: the central, state, and municipal governments.

Scenario 6-Fidel Castro took power as dictator over Cuba and made it communist in 1959 after leading the Cuban Revolution. Under this government system, only one political party was in control and only one person, Castro, made all decisions for the citizens. The laws he established from Havana, the capital, were to be followed by the entire country. 

Cheat Sheet Directions1. Working with your group, read and

complete the graphic organizer on page 66 of your ISSN.

2. Make sure to answer questions 1-5 at the bottom.

Remember WHISPER

Brazil Mexico Cuba

Full Name of CountryGovernment SystemType of Citizen participationChief executive

How long does “CE” serve?Do citizens vote?

What are the qualificaitons for voting?Personal Freedoms# of Political parties

Venn Diagram Directions1. Working with your group, create a triple

venn diagram on your group whiteboard2. when you finish, take a picture and

"turn in" to edmodo (let me know if you need my iPad)

Remember WHISPER

TOTD- On an Index card3-Things you learned today2- questions you still have1-thing I want to learn more about OR think should be on the test