Central america and the caribbean economies contain which two main elements in their economy to help people meet their basic needs?

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20-12-2022
Business

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Central america and the caribbean economies contain which two main elements in their economy to help people meet their basic needs?

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PallaviB PallaviB · Answer 1 · 2022-12-22T12:09:20-05:00

The two main elements of the Central American and Caribbean economies are the informal economy and the tourism industry. The informal economy is composed of family-run businesses, subsistence agriculture, and self-employment.

In this type of informal economy, it is essential to meet the basic needs of the population, as it provides employment opportunities, food, and other goods and services to local communities. Tourism is also an important source of economic growth and development in the region, as it stimulates other economic activities such as infrastructure development, hospitality services, and other businesses.

To know more about tourism industry click here

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