Presentation is loading. Please wait.

Presentation is loading. Please wait.

ECONOMIC GEOGRAPHY. ECONOMICS ANSWERS 3 BASIC QUESTIONS: WHAT AND HOW MANY GOODS AND SERVICES WILL BE PRODUCED? HOW WILLTHESE PRODUCTS BE PRODUCED? HOW.

Similar presentations


Presentation on theme: "ECONOMIC GEOGRAPHY. ECONOMICS ANSWERS 3 BASIC QUESTIONS: WHAT AND HOW MANY GOODS AND SERVICES WILL BE PRODUCED? HOW WILLTHESE PRODUCTS BE PRODUCED? HOW."— Presentation transcript:

1 ECONOMIC GEOGRAPHY

2 ECONOMICS ANSWERS 3 BASIC QUESTIONS: WHAT AND HOW MANY GOODS AND SERVICES WILL BE PRODUCED? HOW WILLTHESE PRODUCTS BE PRODUCED? HOW WILL WEALTH FROM THE SALE BE DISTRIBUTED?

3 FOUR TYPES OF ECONOMIC SYSTEMS TRADITIONAL COMMAND DEMAND MIXED

4 TRADITIONAL ECONOMY TRADITIONAL ECONOMIES RELY ON BARTER, WHERE GOODS AND SERVICES ARE TRADED WITHOUT EXCHANGING MONEY

5

6 COMMAND ECONOMY Examples: China, Cuba, North Korea Production of goods and services are determined by a central government Also called a PLANNED ECONOMY or COMMUNISM Consumers have no impact on the price or amount of goods produced

7

8 DEMAND ECONOMY ALSO CALLED A MARKET ECONOMY OR CAPITALISM PRODUCTION OF GOODS AND SERVICES ARE DETERMINED BY DEMAND FROM CONSUMERS EXAMPLE: UNITED STATES

9

10 MIXED ECONOMY COMBINATION OF DEMAND AND COMMAND ECONOMIES GOVERNMENT CONTROLS HEALTH CARE, INSURANCE, TRANSPORTATION AND OTHER SERVICES FOR THE PUBLIC GOOD EXAMPLES: SWEDEN, DENMARK, NORWAY

11 LEVELS OF ECONOMY ACTIVITIES PRIMARYSECONDARYTERTIARYQUATERNARY

12 PRIMARY ACTIVITIES TAKE A RAW NATURAL RESOURCE BUT DO NOT CHANGE THE FORM OF THAT RESOURCE EXAMPLES; FISHING, FARMING, LOGGING, MINING

13 SECONDARY ACTIVITIES TAKE THE RAW MATERIALS AND TURN THEM INTO FINISHED PRODUCTS EXAMPLE: MANUFACTURING

14 TERTIARY ACTIVITIES MAKE NO PRODUCT, BUT PROVIDE SERVICES EXAMPLES: TEACHERS, DOCTORS, SALESPERSONS, LAWYERS

15 QUATERNARY ACTIVITIES PROVIDE INFORMATION, MANAGEMENT, RESEARCH SERVICES EXAMPLES: TECHNOLOGY, COMMUNICATIONS

16 NATURAL RESOURCES Renewable---Can be replaced trees, fish Inexhaustible---Unlimited solar, geothermal, wind, tides Non-renewable--Cannot replaced metals, fossil fuels, gems

17 MEASURING ECONOMIC DATA WHAT IS GNP? WHAT IS GDP? WHAT IS PER CAPITA GNP?

18 COMPARING ECONOMIC DATA DEVELOPED NATIONS HAVE HIGH GNP AND HIGH DEVELOPMENT OF SECONDARY, TERTIARY, AND QUATERNARY ACTIVITIES DEVELOPING NATIONS HAVE LOW GNP AND HIGH LEVELS OF PRIMARY ACTIVITY, LOWER LEVELS OF SECONDARY ACTIVITIES


Download ppt "ECONOMIC GEOGRAPHY. ECONOMICS ANSWERS 3 BASIC QUESTIONS: WHAT AND HOW MANY GOODS AND SERVICES WILL BE PRODUCED? HOW WILLTHESE PRODUCTS BE PRODUCED? HOW."

Similar presentations


Ads by Google