 There is competition in most major industries.  What does this mean? What kind of economic system does this suggest Brazil has?  The two largest banks are government owned.  What does this mean? What kind of economic system does this suggest Brazil has?

 Strongest economy of all the South American countries  Strong agricultural, mining, manufacturing and service industries  Government controls some areas like health care, some banks, and postal service.

 So … Brazil has a _____________ market economy!  Why?

 Top trading partners: The United States and Argentina  Brazil is the #1 producer of coffee in the world  Other products:  Crops: sugarcane and oranges  Manufacturing: cars, trucks and other items made of steel (Brazil has iron ore deposits as a natural resource)

 According to Cuba’s government, most industries are owned by the government. The U.S. banned trade with Cuba because of it’s communist government.  What does this mean? What type of economic system does this suggest that Cuba has?  Cuba has a thriving informal economy, where people can get goods and services the government doesn’t provide. This informal economy is based on competition.  What does this mean? What type of economic system does this suggest that Cuba has?

 BUT ULTIMATELY … Government owns all resources and property, and decides what and how much is to be produced.

 Cuba has a _________________ economy!  Why?

 Trading Partners: Venezuela and China (the Soviet Union was Cuba’s main trading partner before it’s collapse)  Major Exports: sugar, nickel, tobacco and fish

 Complete the Economic Systems Analysis on Brazil and Cuba!

Step One: On your own!  List 3 – 5 main ideas of today’s lesson on the economies of Brazil and Cuba.  Write down at least 1 thing that you are still confused about. Step Two: With your partner!  Compare your lists.  Write a main idea statement (a complete sentence!) for today’s lesson using each of your lists.  Using the issues/confusing points you each listed either:  Write a statement correcting the confusion, if you can help each other.  Write questions to pose to the class, so that you can write a correct statement.