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Economic Activity
Types of Economic Activities
Primary Economic Activity• Fishing- tuna fishing• Forestry• Mining/drilling• Agriculture (based on land and
climate)– 50% of less developed countries– 15-20% newly industrialized– <8% of developed countries
• Commercial Agriculture: produced to sell• Subsistence Ag.: provide for your family
Primary Economic Activity cont’d…
• Subsistence Farming– Grow enough for family
or village
• Commercial Farming– Use modern techniques– Only small # of workers
needed– Found in all countries– Plantations- found in
newly industrialized• Who owns most
plantations?
Secondary Economic Activity
• Manufacturing- Industry– Takes raw material and turns into a
finished products
– Tuna into Canned Tuna
What are some examples of manufacturing in the United States? In what regions? Cities?
Tertiary Economic Activity
The Service Industries• Transportation• Sales• Advertising• Government-some• Health Care• Banking• Education- some
Quaternary Eco Activities
Collecting, processing and distributing information
• government, culture, libraries, scientific research, education, and information technology.
Stages of Economic Activity Developed Country
Modern Technology Mostly Tertiary Eco.
Activities (Service) Well developed economy GDP per Capita: USA $46,000 Has sustainable
development Outsourced manuf. when
costs can be cut.
Less Developed Limited modern
technology Dependent on
developed countries for manufactured goods.
GDP per capita: ~$1000
Mostly primary and secondary eco. activities
•Newly IndustrializedMexico $15,600 (2012)
13% Agric
Zimbabwe- What stage am I?
$600.00 GDP per capita
66% Agric.
38% urban
3.8 Fertility rate
Know these front and backwards!!!
• Primary- Agriculture
• Secondary- Manufacturing (industry)
• Tertiary- Service
• Quaternary- data
USA 1.1% Agriculture (primary)• 22.1 % Manufacturing• 76.8% Service (Tertiary)• Can U say “Sustainable development”
– Hmmm– Monaco 95% service!!!
Mexico(Newly Indust) 13% Agric, 24% Manuf., 63% Service
Bangladesh 18% Agric,28% Manuf., 52% ServiceZimbabwe(less developed) 66% Agric, 10% manu., 24% Service
What are some examples of raw materials in your
community?What kind of finished product
can be made from this?
Primary
Standard of Living(Daily Life)- look at all these
things• Life expectancy
• Infant mortality rate
• GDP per capita
• # of people per car
• Energy consumption
• Literacy rate
• Traditional Economy
• Human Resources– Workers- a country’s greatest resource! YOU!
• Capital Resources– Machines– Money (Investments)– Buildings
Compare a contractor with a hammer and nail to one with lumber, a toolset and backhoe.
Which one represents the less developed country?
Which one represents the developed country?
Supply and Demand
•As the price goes up, what happens to the demand?
• Real life-
•As the price is reduced, what happens to the supply of goods?
Economic Systems answer these questions…
What will be produced?
How much will be produced?
How will it be distributed?
What will it cost?
Economic Spectrum
No government
Total government control
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Economic Spectrum
Strong Government
No government
• Command Ec
• Communism
•Karl Marx
•Gov’t regulates all
•Central planners
• Socialism/ Mixed
•
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• Free-Market
• Capitalism
• based on profit
• private ownership
•entrepreneurship
Matching: Communism, socialism, capitalism, traditional
Consumers make the decisions Welfare state Free doctors visit CNN, Fox, Comcast, Ixfinity, CBS, ABC, NBC Clay pots from hand Profit is motive for doing well Community farms Reebok, Nike, Addidas,… No social classes Follow parents line of work 93Q, the Eagle, 104 KRBE, 740 Talk Radio,