mexico lesson 3 c economy. do now who do you think has a better economy? united states mexico ...
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Mexico
Lesson 3 C Economy
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Do Now Who do you think has a better economy?
United StatesMexico Give at least three reasons to support your answer.
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Essential Question
What are the main characteristics of Mexico’s economy?
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Vocabulary
Maquiladoras
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maquiladora A factory located along Mexico’s northern
boarder with the United States.
Assembly plants where workers are putting together products from parts imported to Mexico.
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Maquiladora continued…
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How would you describe the economy of Mexico?
1. Read pages 185-187. Mexico’s Economy
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Primary Industries
An economic activity that directly involves natural resources or raw materials
Farming and Mining are examples (corn, wheat, soybean,rice,coffee, tomatoes, and wood products.
3.9% of labor force is involved in primary industries.
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Secondary Industries (Factories) Most factories are Maquiladoras
(assembly plants). Mexico City is the main manufacturing
center Products-petroleum, mining, textiles,
clothing, motor vehicle parts 32.8% of workforce is employed in
Factories
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Service Industries
An industry where no goods are produced Hospitals, hotels, police, fire, restuarants,
transportation, banking Provide more than half of Mexico’s jobs
(63.4%)
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Exports
Major exporter of oil since 1970 Export about 1.225 million barrels of oil
per day Huge exporter of assembled goods
manufactured in Mexico and exported primarily to US.
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United United StatesStates
CanadaCanada MexicoMexico
GDP GDP
In DollarsIn Dollars16.2316.23
trilliontrillion1.474 1.474 trilliontrillion
GDP Per GDP Per CapitaCapita
In DollarsIn Dollars
$51,700$51,700 $42,300$42,300
UnemploymentUnemployment 8.1%8.1% 7.3%7.3%
exchange exchange raterate
US DollarUS Dollar Canadian Canadian DollarDollar
.99.99
Life Life ExpectancyExpectancy
78 years78 years 81 years81 years
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United United StatesStates
CanadaCanada MexicoMexico
GDP GDP
In DollarsIn Dollars16.2316.23
trilliontrillion1.474 1.474 trilliontrillion
1.798Trillio1.798Trillionn
GDP Per GDP Per CapitaCapita
In DollarsIn Dollars
$51,700$51,700 $42,300$42,300 $15,400$15,400
UnemploymentUnemployment 8.1%8.1% 7.3%7.3% 5%5%
exchange exchange raterate
US DollarUS Dollar Canadian Canadian DollarDollar
.99.99
PesoPeso
13.1713.17
Life Life ExpectancyExpectancy
78 years78 years 81 years81 years 76 years76 years
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NAFTA
North American Free Trade Agreement
An agreement between Canada, Mexico, and the United States that allowed the countries to trade freely with each other.
(NO TAXES ON IMPORTS)
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Summarization Activity
How would you describe the economy of Mexico? What are the main characteristics?
Tell me 4 important things that you learned about Mexico’s economy.