Latin America Economics

How does high literacy rates benefit a country's economy?

• Only citizens who can read can vote in elections and apply for the highly skilled jobs.

• There are more factories in countries with high literacy rates.

• Workers can get jobs that pay well that requires reading and writing skills.

• When children can read and write, they won't be used for child labor.

Why does Cuba have the highest literacy rate in Latin America?

• Children teach themselves to read and write in Cuba.

• Fidel Castro made sure money was put into boosting education in Cuba making education a priority.

• Cuba is the richest country in Latin America.

• Fidel Castro opened thousands of schools in Cuba.

Why do some Latin American countries like Cuba, with high literacy rates also have high poverty rates?

• Reading and writing aren't needed to get high-wage, high-skill jobs.

• People in Latin America need to be literate in lots of languages to get high-wage, high-skill jobs.

• Most of the people who can read in Latin America move out of the area for better job opportunities.

• The largest industries, including agriculture and manufacturing, don’t offer high-wage, high-skill jobs.

Why do some countries in Latin America such as Brazil, spend a lot of money on making college free?

• Getting a college education is a human right.

• Free college makes sure that a country has enough doctors, lawyers, engineers and teachers.

• Countries with lots of college graduates tend to have better and healthier economies.

• Countries with lots of college graduates tend to have people who are happier who like the government.

Why do investments in the wellbeing of people increase a country’s economic wealth?

• Politicans are popular in their communities when they Investment in people’s well-being.

• International trade is expanded in countries that investments in people’s well being.

• Only healthy, educated, and well-trained people can have children to grow the country's population.

• Only healthy, educated, and well-trained people can be expected to support a strong economy.

What are capital goods?

• The factories, machinery, and technology that are needed to support an industry

• Name-brand products such as Chiquita Bananas, Claro, Goya, Coca Cola, etc.

• Capital cities that are visited by thousands of tourists per year

• Positive impressions of a national government

Which natural resources are found in Cuba?

• Natural gas and oil

• Minerals and sugarcane

• Salt and iron ore

• Fresh water and timber

Why might a country, such as Brazil, choose not to sell its natural resources?

• Some natural resources, such as sugar, grow naturally in most countries.

• Some natural resources, such as diamonds, are worth more in the future.

• Some natural resources, such as oil, are too difficult to extract from the earth.

• Some natural resources, such as the rainforest, are critical to the earth’s well-being.

Why does Cuba have very few entrepreneurs?

• Cuban people aren't skilled and don’t have the education they need to start a new business.

• Cuban business owners must give all their profits to the Cuban government.

• Cuba’s government imposes excessive regulations on new businesses.

• Cuba’s communist government made entrepreneurship illegal.

What is an entrepreneur?

• A public figure at the forefront of a business who regulates new businesses and industries

• A private citizen who invests in the creation of a new business or industry

• A private citizen who wants to enter an existing business or industry

• A public figure who regulates existing businesses and industries