1 / 13

Economic Geography

Economic Geography. Ch 4 Section 5. Economy. Consists of the production and exchange of goods and services among a group of people Local Regional National International. Economic Systems. the way people produce and exchange goods and services 4 basic types Traditional Economy

kyle-freeman
Télécharger la présentation

Economic Geography

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Economic Geography Ch 4 Section 5

  2. Economy • Consists of the production and exchange of goods and services among a group of people • Local • Regional • National • International

  3. Economic Systems • the way people produce and exchange goods and services • 4 basic types • Traditional Economy • Command Economy • Market Economy • Mixed Economy

  4. Economic Systemsthe way people • Traditional Economy • Goods and services are traded without exchanging money • Also called “barter” http://www.flickr.com/photos/7144184@N03/2267434246/sizes/s/

  5. Command Economy • Production of goods and services are determined by the central government • Government owned • Sometimes called a “planned” economy • Supply and demand does not always apply http://thevirtuousrepublic.com/blog/wp-content/uploads/2008/05/cp_flag_large.gif

  6. Market Economy • Production of good and services is determined by consumer demand • Sometimes called “supply and demand”

  7. Mixed Economy • Combination of command and market economies provide goods and services so that all people will benefit Capitalism + Socialism

  8. Levels of Economic Activity • Primary Activities • Gather raw materials • Ex: Cutting trees for immediate use • Secondary Activities • Adding value to materials by changing form • Ex: Manufacturing automobiles • Tertiary Activities • Providing business or professional services • Ex: Doctors, teachers, salespeople • Quaternary Activities • Provide information, management, and research by highly-trained people

  9. Economics of Natural Resources • Natural resources – materials on or in the earth (trees, fish, coal, etc.) • Renewable – replaced through natural process • Trees, seafood • Non-renewable – cannot be replaced • Fossil fuels, metals • Inexhaustible energy sources – Solar and planetary processes, unlimited in quantity • Sunlight, wind, geothermal heat, tides

  10. Infrastructure • Basic support systems needed to keep an economy going – the more sophisticated the infrastructure, the more developed the country • Power • Communications • Transportation • Water • Sanitation • Education systems

  11. Measuring Economic Development • Geographers use a variety of standards to make comparisons among economies • Per capita income – average amount of money earned by each person in a political unit • Gross National Product (GNP) – total value of all goods and services produced BY a country over a year or some other specified period of time • Gross Domestic Product (GDP) – total value of all goods and services produced WITHIN a given country in a given period of time

  12. Characteristics of a Developing Country • Low GDP per capita • Limited development on all levels of economic activities • Lack an industrial base • Struggle to provide its citizens with basic needs • Examples: Some Sub-Saharan African countries, some South Asian countries

  13. Characteristics of a Developed Country • High per capita income • Varied economy with a good amount of quaternary activities • Examples: US, Canada, Great Britain

More Related