Economic activity
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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

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Economic Activity

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Economic activity

Economic Activity


Types of economic activities

Types of Economic Activities


Primary economic activity

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

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

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

Tertiary Economic Activity

The Service Industries

  • Transportation

  • Sales

  • Advertising

  • Government-some

  • Health Care

  • Banking

  • Education- some


Quaternary eco activities

Quaternary Eco Activities

Collecting, processing and distributing information

  • government, culture, libraries, scientific research, education, and information technology.


Stages of economic activity

Less Developed

Limited modern technology

Dependent on developed countries for manufactured goods.

GDP per capita: ~$1000

Mostly primary and secondary eco. activities

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.


Zimbabwe what stage am i

Zimbabwe- What stage am I?

  • $600.00 GDP per capita

  • 66% Agric.

  • 38% urban

  • 3.8 Fertility rate


Know these front and backwards

Know these front and backwards!!!

  • Primary- Agriculture

  • Secondary- Manufacturing (industry)

  • Tertiary- Service

  • Quaternary- data


Economic activity

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% Service

      Zimbabwe(less developed) 66% Agric,

      10% manu., 24% Service


Economic activity

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

# of people per car

Energy consumption

Literacy rate

Standard of Living(Daily Life)- look at all these things

  • Life expectancy

  • Infant mortality rate

  • GDP per capita


Economic activity

  • Traditional Economy

cottage industry


Economic activity

  • 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

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

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

Economic Spectrum

Total government control

No government


Economic spectrum1

Economic Spectrum

No government

Strong Government

  • Command Ec

  • Communism

  • Karl Marx

  • Gov’t regulates all

  • Central planners

  • Socialism/ Mixed

  • Free-Market

  • Capitalism

  • based on profit

  • private ownership

  • entrepreneurship


Matching communism socialism capitalism traditional

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,


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