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Types of economies

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  • 1. Types of Economies; World Population-Distribution & Density and Trends & Prospects www.StudsPlanet.com
  • 2. Types of Economies • On basis of level of economic development-3 types of economies 1. Highly Developed or Industrial – commercial economies 2. Semi-developed or mixed industrial – agricultural economies 3. Underdeveloped or predominantly agricultural economies www.StudsPlanet.com
  • 3. Highly Developed Economies • Main Features 1. High per capita gross domestic product (exceeding $ 17,000) 1995-USA $ 26,000, Switzerland $ 42,416 2. Very High Rate of Economic Growth-is a result of high per capita income, rate of savings, www.StudsPlanet.com
  • 4. Dominance of Industrial & Commercial Population • High % of population is engaged in manufacturing and tertiary industries • Agriculture accounts for < 20% labor force • Manufacturing and Tertiary absorb 25- 30% and almost 40% • Agriculture highly mechanised • Metal industries important among manufacturing industries. www.StudsPlanet.com
  • 5. Highly Developed Economies • Very large share in world trade- 1994-Total value of world exports 42,258,73 million dollars 69% accounted for by developed economies USA accounted for 2% • Imports-43,16,002 million developed economies accounted for 48% (USA 6%) • Urbanization • Very high expectation of life www.StudsPlanet.com
  • 6. Semi-Developed Economies • High per capita Gross Domestic Product- 1994- 10,000 -17,000 $ (Portugal-$ 10,428) • Relatively lower rate of economic growth • Dominance of Industrial – Agricultural Population (Agriculture 35-55%) • Relatively lesser Urbanization www.StudsPlanet.com
  • 7. Underdeveloped Economies • Very low per capita GDP $ 250 to $ 2500 Ex-Uganda, Zambia • Very low rate of economic growth < 3% per annum • Dominance of Agricultural/Rural Population • Very small share in world trade • High rate of population growth • Low expectation of life www.StudsPlanet.com
  • 8. Centrally Planned Economies • Rate of savings in these countries is quite high- as it is determined by Government to a certain extent • Core sector-Fuel, Power, Iron & Steel, Communication, Infrastructure, Transportation • Consumer goods expenditure kept at a minimum www.StudsPlanet.com
  • 9. World Population • Census Data- 1.Total number of human beings 2.Age groups of people 3.Sex ratio 4.Literacy 5.Economic Occupation 6.Birth & Death Rates www.StudsPlanet.com
  • 10. Factors affecting population distribution 1. Geographical Factors a) Relief of land-Plains promote settlements where as big mountains prevent settlements b) Accessibility-by roads, water ways (air ways) c) Climate-Very cold-Polar regions 1/50 sq Km; V rainy- Amazon basin – S America <2/sq km. d) Adequate Water-Supply-Nile valley – Superior cotton; Rajasthan – canal work www.StudsPlanet.com
  • 11. Factors affecting population distribution e) Soils f) Mineral Deposits 2.Economic & Cultural Factors a)Ability to obtain outside income-FII/FDI/Foreign Trade/Tourist Income b)Excessive Urbanization- around 20% of the worlds population live in big cities and towns (>1 million) c)Growth of means of transport www.StudsPlanet.com
  • 12. d) Cultural (& technological) Factors-(Life style) – moving away from less efficient and polluting fuels to cleaner fuels. Wood to Gas; Faster methods of communication-Internet, Cloud, Intranet, Web etc..makes trade commerce/business possible 24/7/365 days a year for any person any where in the world. 3.Religious, Political & Social Factors Polygamy, Early marriage, Religious beliefs (church); Preference of particular gender www.StudsPlanet.com
  • 13. Consequences of varying densities of population • Advantages of densely populated areas- 1.Abundant supply of labor 2.Market 3.Development of new industries 4.Demand for services 5.Economies of scale 6.Technical & Scientific Discoveries www.StudsPlanet.com
  • 14. Advantages of densely populated areas 7) Economic Process-leads to greater opportunities 8) Education & Social Facilities 9) Efficient transport network 10) Modern amenities www.StudsPlanet.com
  • 15. Disadvantages of densely populated areas Social Problems-a) Traffic congestion b) Lack of housing space c) Poor public health and sanitary conditions d) Susceptible to epidemics Scarcity of resources-Land, Water, Power Exposure to attack Lack of labor supply High costs www.StudsPlanet.com
  • 16. Population & Underdeveloped Countries • Food Problem • Very Low Standard of Living (even basic requirements are not available) • Large scale unemployment • Low Productivity of Agricultural Workers • Low rate of saving and capital formation www.StudsPlanet.com
  • 17. World Population-Trends & Prospects • The World population has increased 5 times during the period 1650 – 1950 (500 million to 2500 million) • Increased life expectancy • 1950 to 1995 World Population increased from 2517 million to 5716 million (increase of 300 million in 45 years) www.StudsPlanet.com
  • 18. Continent Wise World Distribution of Population • Asia – 59 % • Africa – 12.5 % • Europe – 9.3 % • North America – 8.4 % • Former USSR – 5.4 % • S America – 5 % • Oceana (incl NZ and AUS) – 0.4 % www.StudsPlanet.com
  • 19. High Population Density Areas • > 80 persons / Sq Km – High density • Moderate – 10 to 80 / sq Km • Low < 10 persons/sq Km 4 high human concentration areas-a) Eastern Asia, including China, Japan, Korea b) Southern Asia-India, Bangladesh, Sri Lanka c) North Eastern Parts of USA d) Central & North Western Europewww.StudsPlanet.com
  • 20. Moderate Density Areas www.StudsPlanet.com

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