All of the activities that people do to EARN A LIVING are part of a system.
People Going to Work
Gross National Product (GNP)
Value of ALL goods and services that a country produces ( inside the country and outside ) in one year.
Gross Domestic Product (GDP)
Value includes ONLY those goods and services produces WITHIN a country.
GDP divided by the country’s population gives the per capita GDP.
Economic Activities Four Industries Primary Secondary Tertiary Quaternary Farming, Fishing, Mining Forestry Manufacturing and Construction Trucking, Restaurants, Grocery Stores Research and Management
Relies more on manufacturing
Strong secondary, tertiary, quaternary industries
High literacy rate
Most people in cities have access to telecommunications
Relies more on agriculture
Most people in primary industries
People looking for work in crowded cities
Low levels of education
Little access to health care or telecommunications
Levels of Economic Development Limited access to phones and computers Access to phones and computers 5.Telecomm. Not Accessible-few doctors and hospitals Accessible-many doctors and hospitals 4.Health Care Few Schools- LOW Literacy Rate Many schools- HIGH Literacy Rate 3.Education Primary ---------------------------- Farming, fishing, mining, forestry Secondary, Tertiary, Quaternary ----------------------------- Manufacturing, Service, Information 2. Economy --------------------- Industry India, African Nations, S./Cent. American USA, Canada Japan W. Europe, Australia 1.Examples Developing Industrialized
Making a Living
Free Enterprise = This system is organized around production and distribution of goods and services.
Market Economy =Business owners and customers make decisions about what to make, sell, and buy.
Command Economy =The Government decides what, and how much will be produced. Also sets the prices.
Making a Living
Tradition Based Economy = Based on customs and traditions. Economic activities are based on laws, rituals, religious beliefs.
Mixed Economy = MOST countries have this type of economy. Based on at least TWO systems.
One Crop Economy = Based on a single crop, such as bananas, sugarcane or cacao.
Economics and Politics communism democracy Political System
Economy Developing Countries Developed/ Industrialized Countries