Products made in Mexico include food, electronics, shoes, apparel, furniture, chemical products, automotive equipment and accessories, tools, toys and sporting goods. As of July 2006, Mexico was the number one partner with the United States in the electronics business. About 25 percent of imported U.S. automotive parts were from Mexico. The country’s manufacturing industry accounted for more textiles and apparel supplied to the United States than any other nation.Know More
Known as the United Mexican States, Mexico is a federal republic in North America. It is bordered on the north by the United States and by the Pacific Ocean on the south and west. Guatemala, Belize, and the Caribbean Sea are on the southeast, and the Gulf of Mexico is on the east.
Mexico has a population of 119,713,203 as of 2014, making it the most populous Spanish-speaking country in the world and the second-most populous nation in Latin America after Portuguese-speaking Brazil. The Mexican population makes up about 1.7 percent of the world’s population, and it ranks 11th in population rankings, behind Japan but ahead of Philippines.
Mexico is made up of 31 individual and sovereign states, each of which has its own constitution and government. It has one of the world’s largest economies. It is the 10th largest producer of oil in the world, the world's leading silver producer and is regarded as both the middle power and regional power.Learn more about Economics
Mexico has several native products that include beans, corn, vanilla, tomatoes, avocado and chocolate. These are all staples in the Mexican diet and the land.Full Answer >
Advantages of a traditional economy include knowing people's role in the economy and producing goods to help people survive; disadvantages include a lower standard of living and an increased vulnerability of all concerned. A traditional economy is one that emphasizes the beliefs and customs of each generation of people.Full Answer >
Consumer sovereignty is the economic theory that consumers can best determine what goods and services should be produced in a society. Firms, such as businesses and companies, produce whatever the consumer prefers. Economist William Harold Hutt coined this term in his 1936 book "Economists and the Public."Full Answer >
The concept of demand and supply states that for a market to function, producers must provide the goods and services that customers need. "Supply" represents the amount of goods a market can provide, while "demand" stands for the amount of goods customers are willing to buy.Full Answer >