How is the economy of Mexico different from the economies of most Central American countries? (1 point) Responses Mexico has a mixed economy, while most Central American countries have a command economy. Mexico has a mixed economy, while most Central American countries have a command economy. Mexico's economy is primarily centered on tourism, while most Central American countries are focused on manufacturing. Mexico's economy is primarily centered on tourism, while most Central American countries are focused on manufacturing. Mexico's economy is much larger and diverse than the economies in Central America. Mexico's economy is much larger and diverse than the economies in Central America. Mexico's economy include a larger percentage of farmers than those in Central America. Mexico's economy include a larger percentage of farmers than those in Central America.

Question

How is the economy of Mexico different from the economies of most Central American countries? (1 point) Responses Mexico has a mixed economy, while most Central American countries have a command economy. Mexico has a mixed economy, while most Central American countries have a command economy. Mexico's economy is primarily centered on tourism, while most Central American countries are focused on manufacturing. Mexico's economy is primarily centered on tourism, while most Central American countries are focused on manufacturing. Mexico's economy is much larger and diverse than the economies in Central America. Mexico's economy is much larger and diverse than the economies in Central America. Mexico's economy include a larger percentage of farmers than those in Central America. Mexico's economy include a larger percentage of farmers than those in Central America.

Answer 1

All of the above statements are correct. Mexico's economy is indeed different from the economies of most Central American countries in several ways. Mexico has a mixed economy, meaning it combines elements of both a market economy and a command economy. In contrast, most Central American countries have more command economies, where the government has more control over economic activities.

Furthermore, Mexico's economy is primarily centered on tourism, with millions of tourists visiting the country each year. On the other hand, most Central American countries are focused on manufacturing, particularly in industries such as textiles, garments, and electronics.

In terms of size and diversity, Mexico's economy is much larger and more diverse compared to the economies of Central American countries. Mexico has a strong industrial sector, including manufacturing, automotive, and aerospace industries, along with a significant service sector. Central American countries generally have smaller economies that are more dependent on agriculture and commodity exports, such as coffee, sugar, and bananas.

Lastly, Mexico does have a larger percentage of farmers compared to Central American countries, as agriculture plays a significant role in Mexico's economy.