Saturday, August 7, 2010

United States, Costa Rica, Jamaica 5.4

Major Industries
What industries are most prominent in the country? What do most people do for work there? Are there any famous special items the country produces?

1. United States
  • Mineral, agriculture (grain), shipping
  • Manufacturing: petroleum, steel, motor vehicles, aerospace, chemicals, electronics, lumber, mining, consumer goods, food processing, etc.
  • Work for companies, businesses, on farms







2. Costa Rica
  • Microprocessors, food processing, medical equipment, textiles and clothing, construction materials, fertilizer, plastic products
  • Work in retail, manufacturing
  • Coffee, bananas, sugar, textiles, electronic components, electricity

3. Jamaica
  • Tourism, bauxite/alumina, agro processing, light manufactures, rum, cement, metal, paper, chemical products, telecommunications
  • Work in businesses, travel industry, farmer
  • Sugarcane, bananas, coffee, citrus, yams, vegetables, poultry, goats, mollusks




Advantage

Through which products or industries does the country enjoy absolute advantage? Through which products or industries does the country enjoy comparative advantage over the other two countries? Does the United States already have a trade relationship with the country? If so, list products of exchange. You may leave the box for the United States blank on this one. You may reference statistics about current production in the countries, amounts or value of natural resources, and other data.

1. United States
  • Absolute advantage: military exports, software
  • Comparative advantage: corn (agricultural products)



2. Costa Rica
  • Absolute advantage: bananas and coffee
  • Comparative advantage: fruit
  • Products of exchange: integrated circuits, medical equipment, bananas, pineapples, coffee, melons, sugar, textiles, electronic components, medical equipment

3. Jamaica

  • Absolute advantage: tourism
  • Comparative advantage: sugarcane
  • Products of exchange: alumina, sugar, bananas, chemicals, citrus fruits, rum, coffee, tourism







Works Cited:

http://en.wikipedia.org/wiki/Economy_of_the_United_States

https://www.cia.gov/library/publications/the-world-factbook/geos/us.html
http://www.shmoop.com/international-trade/absolute-comparative-advantage.html

http://www.nationsencyclopedia.com/economies/Americas/Costa-Rica.html

http://www.state.gov/r/pa/ei/bgn/2019.htm

http://www.jamaicans.com/childsguide/peopledo.shtml

https://www.cia.gov/library/publications/the-world-factbook/geos/jm.html

https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html

http://www.state.gov/r/pa/ei/bgn/2032.htm





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