- The main goods produced are sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat, and livestock.
- The goods will be produced through the use of agricultural mechanisms and tools the country has adapted.
- Since most of these goods are agricultural products, they have many purposes around the world. Most of these goods are the foundations for making other food products. As a result, countries around the world want these in demand products.
- Yes, these goods will be exported.
A) Identify and explain the type of economic system.
Argentina has a market economy. Since many of the resources Argentina produces are agricultural, the farmers and citizens dictate prices. As a result, the government has little interaction and the economy is driven by the market of the goods. Citizens need to buy these goods so the farmers have a lot of purchasing power.
B) Select three key economic indicators such as poverty rates, labor distribution, use of resources, etc. and analyze what this information says about the country, how does it compare to other countries, change over time, etc.
1. Unemployment rate: 8%. This indicator shows that Argentina is a working country with few people unemployed. Compared to the US, this number is very low. This could mean there are more jobs in Argentina.
2. Population below poverty line: 30%. This indicator reflects the financial status of the citizens in Argentina. This is a fairly low or moderate percentage of people living in poverty.
3. Industrial production growth rate: 1.7%. This number indicates that Argentina is not advancing for much in terms of industrialization. This is harmful since the country is not keeping up with the world in terms of production rates, hurting their economy and world status.
C) Identify the GDP - per capita for the country.
The GDP per capita in 2016 was $20,200.
Your browser does not support viewing this document. Click here to download the document.
Your browser does not support viewing this document. Click here to download the document.