Question

Brazil - Describe the productive structure of the economy, how it was determined, and how/if it was affected by geography and colonial institutions.

Answer 1

Brazil is located in southern hemisphere. Brazil has competitive productive structure where both private sector and public sector works together. In such a system state plays the role of facilitator and leader. The production structure is determined by the joint forces of demand and supply. In such system market players interact and determine the equilibrium.

Brazil is rich in natural resources and has plentiful resources. However due to colonisation it's vast resources are used for development of colonisers. Institutions developed in colonial period hampers the development process but government is working to restructure these institutions to remove bureaucratic corruption and make economy more competitive and more productive .