Oil Boom part 1

Until the 1970s, Ecuador's economy was based on _______.

• Cocoa exports

• Banana exports

• oil exports

In what year oil reserves were found in the Amazon?

Ecuador was a rich country with big economy.

• True

• False

Foreign banks offered ___________ money on loan at low interest rates.

Who was in power from 1972 to 1976?

• Isidro Ayora

• Eloy Alfaro

• General Guillermo Rodríguez Lara

• García Moreno

Who suffered because of the oil companies?

Choose all the meausres implemented by the president during this time.

• The president offers loans to business owners.

• Set new rules to foreign oil companies.

• Improved public services.

• Destroyed the country.

Who decided to raise oil prices.