Economy of South America centuries. This can be explained by South America´s high concentration on primary commodities as well as the state of the educational system and institutional structure, some of which are still related to its colonial past, others to recent political developments. It was only from the 1990s when countries in South America switched over to the system of Free-Market economy. This eventually pulled countries in South America out of the debt crisis. Now, major economic activities include agriculture, industry, forestry, and mining. In 2016, four countries, which include Brazil, Ecuador, Argentina and República Bolivariana de Venezuela experienced decline in output. Other
History of South America formed which aims to merge the two existing customs unions: Mercosur and the Andean Community, thus forming the third-largest trade bloc in the world. This new political organization is known as Union of South American Nations seeks to establish free movement of people, economic development, a common defense policy and the elimination of tariffs. History of South America The history of South America is the study of the past, particularly the written record, oral histories, and traditions, passed down from generation to generation on the continent of South America. South America has a history that has a wide range of