Status of Women
Government System
Oil Consumption & Production
1. Record:
Oil Production: 0 bbl/day (2011 est.)
Oil Consumption: 7,361 bbl/day (2009 est.)
2. Summarize:
I have come to the conclusion that a vast majority of countries worldwide have a continuously growing debt and the only way for them to compete or participate in the global economy is by importing and exporting certain goods. Costa Rica has a variety of resources available to them that they use to their economic and societal benefit; however, they do not fully reap the benefits because their ultimate focus is to preserve the land. They have a lot of produce that they can export to other countries, but when it comes to oil I personally think they should avoid consuming it. They, along with the rest of Central America, do not yield enough oil to consume as much as they do. Because cars and other things run on oil, it is a highly sought after resource, but if the oil consumption and production are too far separated, it could be in the country’s best economic interest to invest in other resources or alter products to adjust and accommodate the resources that they can produce themselves. Even though Central America is not a large producer of oil, Costa Rica and the other countries would never fully know because of the strong focus on maintaining and preserving the land. Although they do not contribute to the oil industry, they contribute to the food industry and is a highly sought after vacation spot. So even though one field is not as strong, the other areas are steady enough keep the economy balanced.
3. Contemplate:
Why doesn't Costa Rica use other resources like water like other countries use oil since they consume way more than they contribute to that field?
Is Costa Rica involved in oil consumption because of the economic partnerships they have established with other countries? Or do they have a true need for oil?
1. Record:
Oil Production: 0 bbl/day (2011 est.)
Oil Consumption: 7,361 bbl/day (2009 est.)
2. Summarize:
I have come to the conclusion that a vast majority of countries worldwide have a continuously growing debt and the only way for them to compete or participate in the global economy is by importing and exporting certain goods. Costa Rica has a variety of resources available to them that they use to their economic and societal benefit; however, they do not fully reap the benefits because their ultimate focus is to preserve the land. They have a lot of produce that they can export to other countries, but when it comes to oil I personally think they should avoid consuming it. They, along with the rest of Central America, do not yield enough oil to consume as much as they do. Because cars and other things run on oil, it is a highly sought after resource, but if the oil consumption and production are too far separated, it could be in the country’s best economic interest to invest in other resources or alter products to adjust and accommodate the resources that they can produce themselves. Even though Central America is not a large producer of oil, Costa Rica and the other countries would never fully know because of the strong focus on maintaining and preserving the land. Although they do not contribute to the oil industry, they contribute to the food industry and is a highly sought after vacation spot. So even though one field is not as strong, the other areas are steady enough keep the economy balanced.
3. Contemplate:
Why doesn't Costa Rica use other resources like water like other countries use oil since they consume way more than they contribute to that field?
Is Costa Rica involved in oil consumption because of the economic partnerships they have established with other countries? Or do they have a true need for oil?
Economic System
The predominant economic system in Costa Rica is a mixed economy. Although the government regulates different divisions of operations, there is an equal amount of people who oversee and run other operations, that are similar in power. Agricultural products like coffee, bananas, pineapples, and other exports are important to the traditional trade of the country; but as the new millennium approached technology hit the roof and became one of the country’s top exports. Along with technology and agriculture, tourism is an extremely valuable feature that boosts the economy. More of the citizens work in tourism, real estate, management and other branches of service than in manufacturing. Because a majority of the country’s income is generated from tourism, projects and employment are centered on that aspect and have maintained a stable economy. All in all, Costa Rica has many types of economic systems within the country; however, because the different levels of power remain balanced, their economic system can be labeled a mixed economy.
Sources:
(n.d.). Retrieved from http://www.britannica.com/EBchecked/topic/139528/Costa-Rica/40882/Resources-and-power
(n.d.). Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html
(n.d.). Retrieved from http://www.heritage.org/index/Country/costarica
Sources:
(n.d.). Retrieved from http://www.britannica.com/EBchecked/topic/139528/Costa-Rica/40882/Resources-and-power
(n.d.). Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html
(n.d.). Retrieved from http://www.heritage.org/index/Country/costarica