2 Standards SS6E1 The student will analyze different economic systems. a. Compare how traditional, command, and market, economies answer the economic questions of 1-what to produce, 2-how to produce, and 3-for whom to produce. b. Explain how most countries have a mixed economy located on a continuum between pure market and pure command. c. Compare and contrast the basic types of economic systems found in Cuba and Brazil. SS6E2 The student will give examples of how voluntary trade benefits buyers and sellers in Latin America and the Caribbean. a. Explain how specialization encourages trade between countries. d. Explain why international trade requires a system for exchanging currencies between nations. SS6E3 The student will describe factors that influence economic growth and examine their presence or absence in Latin America. a. Explain the relationship between investment in human capital (education and training) and gross domestic product (GDP). b. Explain the relationship between investment in capital (factories, machinery, and technology) and gross domestic product (GDP). c. Describe the role of natural resources in a country s economy. d. Describe the role of entrepreneurship.
5 Brazil & Cuba
6 Economic Systems Do you remember the three questions that every country must answer when developing its economic plan? 1. What goods/services will be produced? 2. How will goods/services be produced? 3. Who will consume the goods/services? The way a country answers these questions determines what kind of economic system it will have: Traditional Command Market
7 All economic decisions are based on customs, traditions, & beliefs of the past. People will make what they always made & do the same things their parents did. The exchange of goods is done through bartering. Bartering = trading without using money Some examples: villages in Africa & South America, the Inuit in Canada, Aborigines in Australia
8 All economic decisions are made by the Government. The government owns most of the property, sets the prices of goods, determines the wages of workers, plans what will be made everything. This system has not been very successful. More and more countries are abandoning it. This system is very harsh to live under; because of this, there are no PURE command countries in the world today. Some countries are close: Cuba, former Soviet Union, North Korea, former East Germany, etc. All of these countries have the same type of government: Communist! The government is in control of everything.
9 Economic decisions are made based on the changes in prices that occur as buyers & sellers interact in the market place. The government has no control over the economy; private citizens answer all economic questions. In a truly free market economy, the government would not be involved at all. Scary There would be no laws to make sure goods/services were safe. *Food! Medicine! There would be no laws to protect workers from unfair bosses. Because of this, there are no PURE market economies, but some countries are closer than others. Some Examples: US, UK, Australia, etc.
10 Since there are no countries that are purely command or purely market, what does that make them? Most democratic countries have some characteristics of both systems, so we keep it simple and call them: MIXED Of course, most countries economies are closer to one type of system than another.
11 Factors of Production There are 4 factors of production that influence economic growth within a country: Natural Resources available Investment in Human Capital Investment in Capital Goods Entrepreneurship The presence or absence of these 4 factors determine the country s Gross Domestic Product (GDP) for the year.
12 GDP is the total value of all the goods and services produced in that country in one year. It measures how rich or poor a country is. It shows if the country s economy is getting better or worse. Raising the GDP of a country can improve the country s standard of living.
13 Gifts of Nature Natural resources are important to countries because without them, countries must import the resources they need (can be costly). A country is better off if it can use its own resources to supply the needs of its people. If a country has many natural resources, it can trade/sell them with other countries.
14 To increase GDP, countries must invest in capital goods: All of the factories, machines, technologies, buildings, and property needed by businesses to operate. If a business is to be successful, it cannot let its equipment break down or have its buildings fall apart. New technology can help a business produce more goods for a cheaper price.
15 To increase GDP, countries must invest in human capital. Human capital is the knowledge and skills that make it possible for workers to earn a living producing goods and services. This includes education, training, skills, and healthcare of the workers in a business or country.
16 People who provide the money to start and operate a business are called entrepreneurs. These people risk their own money and time because they believe their business ideas will make a profit. Entrepreneurs must organize their businesses well for them to be successful. They bring together natural, human, and capital resources to produce foods or services to be provided by their businesses.
17 Not every country can produce all of the goods and services it needs. Countries specialize in producing those goods and services they can provide best and most efficiently. They look for others who may need these goods and services so they can sell their products. The money earned by such sales then allows the purchase of goods and services the first county is unable to produce. In international trade, no country can be completely self-sufficient (produce all the goods and services it needs). Specialization creates a way to build a profitable economy and to earn money to buy items that cannot be made locally.
19 Like most countries with democratic governments, Brazil has a mixed economic system. It s actually closer to a market system than it is to a command one; however, there is some government regulation and control among industries (like healthcare and the postal service). Brazil has strong agricultural, mining, manufacturing, and service sectors. It has the strongest economy in South America.
20 Brazil s GDP is $2.396 trillion (US dollars). It is ranked 8 th in the world! Brazil has the highest GDP in Latin America. The GDP per capita (value of goods and services produced per person) is $12,100.
21 What are Brazil s major natural resources? bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, rare earth elements, diamonds, uranium, petroleum, hydropower, timber
22 Diamond Mine in Brazil
23 What percentage of the land is arable (capable of being farmed)? 8.5% What are the major agricultural products? coffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus, beef
24 Brazilian Cattle Ranch
25 What s produced in Brazil s factories? textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment The service industry accounts for 69% of Brazil s economy areas such as insurance, banking, retail, and tourism.
26 Brazil s chief exports include: transport equipment, iron ore, soybeans, footwear, coffee, & automobiles Brazil has specialized in the development of its agriculture, mining, & manufacturing sectors, and therefore has the largest economy in South America.
27 Harvesting Coffee in Brazil
28 What percentage of the population over the age of 15 can read and write? 90.4% How long are students expected to stay in school? Most students stay in school until they are 1415 years old.
29 Brazilian Schools
31 What percentage of people do not have jobs? 5.5% of Brazil s workforce is unemployed. What percentage of people live in poverty? 21.4% of Brazil s population live below the poverty line and cannot meet basic needs.
33 Like all countries with Communist governments, Cuba has a command economic system. The government owns all resources and property, and decides what and how much are to be produced. Cuba s economy has struggled since the fall of the Soviet Union because it was Cuba s main trading partner.
34 Cuba s GDP is $72.3 billion (US dollars). It is ranked 67 th in the world. The GDP per capita (value of goods and services produced per person) is $10,200.
35 What are Cuba s major natural resources? cobalt, nickel, iron ore, chromium, copper, salt, timber, silica, petroleum, & arable land
36 Oil Field in Cuba
37 What percentage of the land is arable (capable of being farmed)? 32.3% What are the major agricultural products? sugar, tobacco, citrus, coffee, rice, potatoes, beans, & livestock
38 Cuban Sugarcane
39 What s produced in Cuba s factories? petroleum, nickel/cobalt, pharmaceuticals, tobacco, construction, steel, cement, agricultural machinery, & sugar
40 Cuba s chief exports include: petroleum, nickel, medical products, sugar, tobacco, fish, citrus, & coffee
41 What percentage of the population over the age of 15 can read and write? 99.8% How long are students expected to stay in school? Males 15 years old Females 16 years old
42 Cuban Schools
43 What percentage of people do not have jobs? 3.8% of Cuba s workforce is unemployed. *Note: these are official rates put out by Cuba s government; unofficial estimates are about double the official figure What percentage of people live in poverty? Cuba s government does not make this information available.
44 Currency exchange is the price of one country s currency compared to another. 1 US dollar = 2.33 Brazilian reals 1 US dollar = 26.5 Cuban pesos 1 Brazilian real = Cuban pesos What does this mean? Brazil s economy is stronger than Cuba s, but the US s economy is stronger than both.
47 Teachers Ticket Out the Door Have students write down 3 facts about the lesson, 2 important vocabulary words, and 1 question that they have. You can quickly read all of the questions at night and go over them the next day. *There are two per page.
48 Interesting Facts: Interesting Facts: Key Vocabulary Words: Key Vocabulary Words: Question You Still Have: Question You Still Have:
49 Teachers Thank you for downloading this file. I hope you enjoy using it with your students, and I can t wait to read your feedback in my TPT store! For more social studies materials, please visit my store: I teach Language Arts and Social Studies in Georgia, so my products are aligned with Common Core (LA) and Georgia Performance Standards (SS). Copyright Brain Wrinkles. All rights reserved. Permission is granted to copy pages specifically designed for student or teacher use by the original purchaser or licensee. The reproduction of any other part of this product is strictly prohibited. Copying any part of this product and placing it on the Internet in any form (even a personal/classroom website) is strictly forbidden. Doing so makes it possible for an Internet search to make the document available on the Internet, free of charge, and is a violation of the Digital Millennium Copyright Act (DMCA).
50 Credits: Facts & Statistics were found via CIA World Factbook in November All photos were found via Creative Commons and labeled for reuse. Fonts: Backgrounds & Graphics:
Traditional, Command, & Market Teachers: The following pages have the vocabulary words that the students should familiar with regarding the economic systems. I also included some blank ones to make your
Peru, Argentina, and Brazil: Economic Factors PERU Grade 6 Economic Overview: Peru's economy reflects its varied geography - an arid coastal region, the Andes further inland, and tropical lands bordering
Physical Features of the Middle East Standards SS7G5 The student will locate selected features in Southwestern Asia (Middle East). a. Locate on a world and regional political-physical map: Euphrates River,
brazilian agribusiness in figures 2010 ranking Brazilian Production and Exports Ranking Brazil plays a leading role as a global supplier of agribusiness products 1 st 1 st 1 st 2 nd Sources: USDA and Brazilian
International Economy International Economy What is trade? It is the act of buying and selling goods and services. The main difference between domestic trade and international trade is that the later is
The Minas Gerais Investment Promotion Agency INDI MISSION To attract, consolidate and retain industrial, commercial and services projects in Minas Gerais. ATTRIBUTION INDI is: The official investment promotion
Curriculum Guide I. Goals and Objectives A. Understand the importance of exports and imports to agriculture and how risk management is affected. B. Understand factors causing exports to change. C. Understand
Workshop 8 Growth and Entrepreneurship Description The key to improving a nation s standard of living is economic growth. Economic growth is a rise in the real per capita GDP of a country. Important factors
P r e v i e w What do you think of when you hear the term economy? Use the information in the audio slideshow to complete the following items. 1. A resource is anything used to produce an economic good
Federation of Industries of the State of Goiás FIEG (Brazil) State of GOIÁS General Information Area Population 2010 GDP PIB - 2011 340,086 km² 6,004 million R$ 103,4 billion Industrial plants 2011 19,858
Commodity Market Monthly Research Department, Commodities Unit July 13, 216 www.imf.org/commodities email@example.com Commodity prices rise 3.1 percent in June, despite a stronger dollar following U.K
TRINIDAD AND TOBAGO 600 Fig. 1: Employment by Major Economic Activity ('000s), 2000-2008 Agriculture, Hunting, Forestry and Fishing Community, Social & Personal 500 400 300 200 100 100,000 90,000 80,000
EAST ASIA: AGRICULTURE & NATURAL RESOURCES East Asia: Agriculture & Natural Resources BTheme Mary Lou Luebbehusen Forest Park Junior/Senior High School PURPOSE To show the effect that physical geography
Moving Beyond Exports Partnership Opportunities With Brazil Brazil Business Hub Overview Engineering Opportunities between Brazil and the UK Strategically sited at the heart of the UK engineering supply
Globalization and China: Impact on the Economy and People s Quality of Life Tao (Tony) Gao, Ph. D. Zarb School of Business Hofstra University University 1 APEC Economic Leaders' Declaration Shanghai, China;
Lesson Plan: US Canada Trade Relations (with an Emphasis on Georgia) Submitted by: Hope Bentley (Bay Creek Middle School - Grayson, GA) Date: August 1, 2012 Description: This lesson will inform students
SRI LANKA 8,000 7,000 6,000 5,000 Fig. 1: Employment by Major Economic Activity ('000s), 2002-2008 Agriculture, Hunting, Forestry, Mining and Wholesale and Retail Trade Hotels and Restaurants Agriculture,
The Coalition to Abolish Slavery & Trafficking Modern Day Slavery and the CA Transparency in Supply Chains Act Presenter: Vanessa Lanza, Director of Partnerships, Human Trafficking in an Era of Globalization
INTRODUCTION TO MACROECONOMICS MIDTERM- SAMPLE QUESTIONS MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) In May 2009, Ford Motor Company's sales
Chapter 13 International Trade: Does it Jeopardize American Jobs Multiple Choice Questions 1. In 2006, trade made up percent of the U.S. economy. a. 1.3 b. 5.0 C. 11.5 d. 22.7 2. In 2005, the U.S. experienced
2 nd Annual LatAm International Mining Conference 13 14 March 2013, Rio de Janeiro, Brazil The Significance of the Mining Industry for Brazil 13 March, 2013 PRESENTATION IBRAM Brazilian Mining Association
DOING BUSINESS Mayo 2012 BRAZIL 1. OVERVIEW Population: 190 million Oficial Language: Portuguese Area: 8,511,965 km2 (3,290,000 sq. mi.); Capital: Brasília (pop. 2.5 million) Main cities: Sao Paulo (11.2
Brazil The Sugarloaf Mountain in Rio de Janeiro Agriculture Automotive Manufacturing Banking Chemicals Manufacturing Communications ducation Financial Services Higher ducation Mining Other Service xports
The Global Chemical Industry: US, China and Global Status and Opportunities, 2015 August 28, 2005 American Chemical Society Martha Gilchrist Moore Moore Economics firstname.lastname@example.org Opportunities
Bank of Zambia us $ Million 1. INTRODUCTION This report shows Zambia s direction of merchandise trade for the fourth quarter of 2009 compared with the corresponding quarter in 2008. Revised 1 statistics,
Construction Rules for the Morningstar Canada Natural Resource Index Morningstar Methodology Paper Version 1.0 March 2015 2015 Morningstar, Inc. All rights reserved. The information in this document is
Additional information about the project can be found at https://www.globalreporting.org/reporting/sector-guidance/topics-research/pages/default.aspx Map of Industry Classification Benchmark (ICB) to proposed
Walking the Silk Road: Understanding Canada s Changing Trade Patterns International Trade and Investment Centre May 16, 2012 Michael Burt Director, Industrial Economic Trends email@example.com 200
Leaving Certificate Business Studies Domestic Environment Please see Teachers Notes for explanations, additional activities, and tips and suggestions. Levels Language focus Learning focus Students' English-language
State of Israel, Kingdom of Saudi Arabia, & Islamic Republic of Iran Standards SS7CG4 The student will compare and contrast various forms of government. a. Describe the ways government systems distribute
1 Agricultural Production and Research in Heilongjiang Province, China Jiang Enchen Professor, Department of Agricultural Engineering, Northeast Agricultural University, Harbin, China. Post code: 150030
COUNTRY DATA: BRUNEI : Information from the CIA World Factbook INTRODUCTION The Sultanate of Brunei s influence peaked between the 15 th and 17 th centuries when its control extended over coastal areas
Common Sense Economics Part II. Seven Major Sources of Economic Progress Practice Test Multiple Choice Questions 1. Why is private ownership an important source of economic prosperity? a. It eliminates
DOING BUSINESS IN BRAZIL Mr. Miguel Rovira Regional Director Americas Governor s Office of Economic Development International Trade and Diplomacy REASONS FOR DOING BUSINESS IN BRAZIL São Paulo Brazil REASONS
HW 2 Macroeconomics 102 Due on 06/12 1.What are the three important macroeconomic goals about which most economists, and society at large, agree? a. economic growth, full employment, and low interest rates
MONEY: DOLLAR VS. WON GRADES: 4-12 AUTHOR: Mel Miller SUBJECT: Social Studies, Economics TIME REQUIRED: 1 class period OBJECTIVES: 1. Recognize the currency of the Republic of Korea 2. Convert Korean money
The Creation of Economic and Corporate Wealth in a Dynamic Economy Is the Productivity Slowdown in the US and the Acceleration in the Euro Area Structural or Cyclical? By Dale W. Jorgenson Harvard University
Work in Progress Construction of GTAP Compatible Input Output (I/O) Table and Social Accounting Matrix (SAM) with Limited Data Base : Nepalese Experience Presented by D. R. Khanal Chairman Institute for
Kai Becker Waukon Senior High Waukon, IA East Timor: A Look to the Future The Democratic Republic of Timor-Leste, also known as East Timor, is a tiny island nation in Southeast Asia. East Timor has suffered
2 Comparing Levels of Development Countries are unequally endowed with natural capital. For example, some benefit from fertile agricultural soils, while others have to put a lot of effort into artificial
12 Globalization and International Trade Globalization refers to the growing interdependence of countries resulting from the increasing integration of trade, finance, people, and ideas in one global marketplace.
BRAZIL MEANS BUSINESS In spite of the world financial crisis, Brazil remains an appealing business destination. GDP compared Latin America (in trillions of US$) REGIONAL DISPARITIES % of total GDP (2008)
Business in Rwanda Maroney Investment Consulting Leading consulting partner to enable your business expand in Africa We carry out comprehensive projects, designed to restore and maintain the stable growth
GHANA www.dlapiper.com 01 Introducing Reindorf Chambers and the Ghanaian legal environment Key information on Ghana Formerly known as the Gold Coast, Ghana is located in West Africa, and became independent
Thailand Country Report Sachi Otsuki Thailand, officially called the Kingdom of Thailand is an independent country located in South East Asia. Thailand is a constitutional monarchy led by King Bhumibol
Economic Impact Study U.S.- Based Scrap Recycling Industry 2015 Prepared for the Institute for Scrap Recycling Industries, Inc. Executive Summary Scrap recycling is a major U.S.-based industry dedicated
Growth pause rather than structure break How robust is the recovery? Prof. Dr. Michael Hüther Director of the Institut der deutschen Wirtschaft Köln PK Hanover Fair, 19 April 2010 1 Agenda Where we are
Colombia in the world Proexport around the world Process of attracting Foreign Direct Investment Proexport offers detailed and professional assistance for investors that find interesting business opportunities
Florida Chamber Foundation 50 Florida Facts Talent Supply & Education 1. There are 459 Charter Schools operating in the state of Florida, which comprise approximately 13% of public schools. Source: Florida
January 2015 Member States Factsheets I T A L Y CONTENTS Main figures 2014 1. KEY DATA 2. POPULATION & ECONOMY 3. FINANCIAL ASPECTS 4. ECONOMIC ACCOUNTS 5. AGRICULTURAL TRADE 6. FARM STRUCTURE 1 2 3 4-5
159870 Business Briefing: Germany May 2015 Overview Area Population Population density 357,340.0 sq km 2014: 80.9 million people Population growth rate 2014: -0.2%* Fertility rate Birthrate Age group distribution
Chapter 5 Measuring Economic Activity: GDP and Unemployment Overview This chapter looks in detail at how economists measure two major macroeconomic variables: gross domestic product (GDP) and the unemployment
By: Michael Brown Business Finance: Will I Make a Profit? FOCUS: Overview: Students analyze the financial information from two business plans to learn how revenues can be increased or costs decreased in
II. Merchandise trade World merchandise trade grew by 2 per cent in volume terms in 2012 against a backdrop of weak global demand and declining prices. This is significantly less than the 5 per cent increase
26 Economic Research Service/USDA Agricultural Outlook/October 1998 Cuba s Agriculture: Collapse & Economic Reform Cuba has responded in part to its current economic crisis by beginning to open the economy
Natural Capital Risk Exposure of the Financial Sector in Brazil EXECUTIVE SUMMARY Prepared by Trucost December 2014 EXECUTIVE SUMMARY Context Brazil s financial sector is dependent on natural capital to
Travel & Tourism Sector Ranking Australia Summary of Findings, November 2013 Introduction Sector Ranking Analysis In order to better understand the importance of the Travel & Tourism industry in a global
GEORGIA PERFORMANCE STANDARDS International Domain [Type the author name] GEORGIA PERFORMANCE STANDARDS INTERNATIONAL ECONOMICS Fundamental Economic Concepts SSEF3 The student will explain how specialization
SPECIALIZATION AND TRADE IN THE THIRTEEN COLONIES LESSON 6 VISUAL 6.1 GREAT BRITAIN S AMERICAN COLONIES GREAT BRITAIN S COLONIES All colonies are rich in natural resources but short on labor. PRODUCTIVE
I. CE.11a A. People make choices about how to use limited resources, decide the ownership of resources, and structure markets for the distribution of goods and services. B. Scarcity there is never enough
ECON40710 International Trade Prof. Antoine Gervais Plan for Today Chapter 1: Introduction Syllabus Chapter 2 Facts The Gravity Model Copyright 2015 Pearson Education, Inc. All rights reserved. 1-2 Chapter
FIFTEEN LARGEST CORN IMPORTING FIFTEEN LARGEST CORN PRODUCING COUNTRIES - 2011 est. COUNTRIES - 2011 est. (Marketing year - thousands of hectares, tons per hectare, and thousands of metric tons) (Marketing
The Power of Productivity WEALTH, POVERTY, AND THE THREAT TO GLOBAL STABILITY William W. Lewis The University of Chicago Press, 2004 National Bank of Poland Warsaw June 2, 2004 THE McKINSEY GLOBAL INSTITUTE
DOING BUSINESS IN AUSTRALIA DEMOGRAPHICS The population of Australia is approximately 22 million. There are six states and two territories. The capital city is Canberra which is located in the Australian
Florida Chamber Foundation 50 Florida Facts Talent Supply & Education 1. There are 459 Charter Schools operating in the state of Florida, which comprise approximately 13% of public schools. Source: Florida
Standard 1: Scarcity Productive resources are limited. Therefore, people can not have all the goods and services they want; as a result, they must choose some things and give up others. Section 1 Savings
Business and Agricultural Loans Business Loan Proposals Fund based business requirements. Non fund based business requirement. Classification of Loans based on Loan Pricing Sub-PLR (Prime Lending Rate)
Chapter 24 Measuring the Wealth of Nations 2014 by McGraw-Hill Education 1 What will you learn in this chapter? How to calculate gross domestic product (GDP). Why each component of GDP is important. What
INTERNATIONAL BUSINESS SKILLS COURSEWARE "/0,&(00$"-0,10$-&+$2,&-&1(!"#$%&'()*(+,-'($!.-)+$!""#$%&'$%()*!++,"&-'&,.(,/(01+&.$++( 2#-"'&'&,.$#+ INTERNATIONAL BUSINESS SKILLS COURSEWARE PUBLISHED BY: British
HOSP 2207 (Economics) Learning Centre Macroeconomics: GDP, GDP Deflator, CPI, & Inflation Macroeconomics is the big picture view of an economy. Microeconomics looks at the market for a specific good, like
10/27/15 Top Questions from the Road By Dr. David M. Kohl Agriculture is in an economic transition that will alter the way business is conducted in the next few years. It is important for industry leaders
HAS BRAZIL REALLY TAKEN OFF? BRAZIL LONG-RUN ECONOMIC GROWTH AND CONVERGENCE COUNTRY PROFILE: A COUNTRY IN TRANSFORMATION POLICY RECOMENDATIONS COUNTRY PROFILE Brazilian Equivalent Population in The World
Benchmarking Travel & Tourism Global Summary How does Travel & Tourism compare to other sectors? Sponsored by: Summary of Findings, November 2013 Outline Introduction... 3 Summary of research structure..
COMMODITIES Commodities: real and tangible assets that are elements of food (agricultural products like wheat and corn), fuel (oil, gas), metals (ex: copper, aluminum, gold, tin, zinc), and natural resources