Communist/Command economy. all important economic decisions are made by the government leaders. Primary economic activity. involve the production of foods and the extraction of resources (ex. Agriculture, fishing, logging). Secondary economic activity.
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.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
involve the production of foods and the extraction of resources (ex. Agriculture, fishing, logging)
the manufacture and production of goods. (ex. Making of textiles or furniture)
services performed by people and businesses ( ex. Teacher, nurse doctor, accountant, retailer)
consists of activities involving information processing and management (ex. Computer programmer, researcher)
The investment a society makes into the community. (ex. Roads, power plants, telephone and internet lines)
produce goods by hand – weave cloth, make furniture and clothes. (common in traditional societies)
an economic system where the most important business producing goods are owned by the government. (ex. Factories, mines, businesses)
what (the amount of money) remains after the costs of running the business are paid
people do what their ancestors did – primarily agriculture. Centered around the family or tribe.
the advantage that one country has over another to produce a certain item (based on the resources it has available.)
the process of a company hiring another company to perform some of its work.
groups of countries that have no tariffs (taxes) or quotas for member countries. (ex. NAFTA)
taxes on imports that make the goods from another country more expensive than a product made in the home country.
zones along the coast of southern Asia designed to attract foreign companies and investment to the country.
People who bring together and organize all the other productive resources – usually a business owner.
all the human labor that is required to produce something. including all the training, studying and planning as well as the work that is required to produce a good or service.
Natural resources, Human resources, capital resources and entrepreneurship are all productive resources.