Cuban Economy: Home / Introduction

Before you begin this unit, think about the following questions:

1. Have you ever purchased anything with a foreign currency? What? Where?
2. Where does one have to go to exchange money or acquire a foreign currency?
3. Knowing that Cuba has a tropical climate, what do you think some of Cuba's major industries might be?
4. Can you name the official currency of Cuba?
5. Think about what the following words and phrases mean. Write down their definitions.
   • socialism
   • capitalism
   • subsidy / subsidize
   • supply and demand
   • human rights
   • rationing
6. Below are some characteristics of a capitalist society such as one finds in the United States and a socialist society such as one finds in Cuba . Which are characteristics of capitalism and which are charactistics of socialism?
   a) Everyone has access to low cost medicine.
   b) You can start your own business.
   c) There are very large differences between upper and lower classes.
   d) The price of basic foods is kept verly low by the state.
   e) Imported foodstuffs very expensive.
   f) Education is free – even college.
   g) The government owns and controls factories and businesses
   h) You cannot always buy what you want in the stores because it sometimes just isn't available.
   i) The government does not garantee employment.
   j) The laws of supply and demand dictate prices.
   k) The people have a right to protest and disagree with the government.

	Forward
A ration book.