Agricultural Economics and Resources

The video discusses the vast range of natural resources in Latin America, including minerals, oil, and agricultural products. It highlights the economic impact of these resources and the challenges faced by countries with single-resource economies. The importance of diversification to stabilize economies is emphasized, along with the role of external factors like weather and global market prices.

What is the main focus of lesson three in the podcast?

• Cultural diversity

• Resources and land use

• The history of Latin America

• Political systems

Which mineral is NOT mentioned as being found in Middle America?

• Gold

• Copper

• Silver

• Iron ore

What is a significant agricultural product of the Caribbean due to its climate?

• Sugar cane

• Wheat

• Corn

• Rice

In which region are most minerals found according to the podcast?

• Coastal areas

• Mountains

• Deserts

• Plains

What percentage of power in Brazil comes from hydroelectric sources?

• 16%

• 30%

• 25%

• 10%

What is a major risk of having a one-resource economy?

• Higher employment rates

• Vulnerability to price changes

• Economic stability

• Increased tourism

Which two countries discovered significant oil reserves in the mid-80s?

• Brazil and Argentina

• Mexico and Venezuela

• Chile and Peru

• Colombia and Ecuador

What is one factor that can affect the economy of a country relying on agriculture?

• Stable weather

• Consistent crop yield

• High demand for crops

• Natural disasters

What is one strategy Latin American countries are using to stabilize their economies?

• Focusing on a single crop

• Building factories for diverse products

• Increasing import taxes

• Relying solely on tourism

Where are many vehicles for GM, Ford, or Chrysler likely assembled?

• United States

• Brazil

• Canada

• Mexico