1. Resources and Production Pages 41 – 52 COPY TEXT IN BLUE!

2. Productive Resources Made up of: Human Resources or “labour” Natural Resources Capital Resources and The Entrepreneur (self-employed business owner)

3. Natural Resources All of the resources that occur in nature that have value and can be used in production. Usually called “land” by economists, these include all the “free gifts of nature.” Ex. Land, minerals, trees, water, rivers, fish, animals, etc.

4. Canadian Natural Resources Fertile low-lying land in the Prairies, around the Great Lakes, and the St. Lawrence lowlands. Forestry in BC, Ontario, Quebec, and Atlantic Canada. Commercial fishing in the Pacific and Atlantic Oceans. (1992 cod moratorium) Canadian Shield has minerals Reserves of coal (ex. Cape Breton), oil (Alberta), and natural gas (Sable Island). COPY ONE EXAMPLE!

5. Human Resources Are manual or non-manual labour provided by workers to produce goods and services. Ex. Skilled labourers, doctors, teachers, computer technicians, Major characteristics: health, education, skills, work attitudes, population size.

6. Human Resource Characteristics Health – healthy workers are more productive Education – the more educated the population is, the more productive the country tends to be Canada has one of the worlds most highly educated populations

7. Human Resource Characteristics Population size – the higher the working age population the more people there to support the non-working population (aged and young, etc.) “Baby Boom” in the 1950’s = 4 children per household. By the 1990’s, 1.7 children per household Immigration and emigration

8. Capital Resources Good that are use in the production of other goods and services A means to an end Modernized capital resources make production more efficient (technology)

9. Capital Resources In order for capital resources to be produced Time must be diverted from the production of consumption goods and services Communities must have the skills to produce them Communities must have the resources to devote to producing them (ie. Not just surviving)

10. Production Is present in any activity that serves to satisfy human wants (good AND services) Involves the combining of economic resources (“land, labour, capital, & entrepreneurial ability)

11. Production All productive activity can be divided into three categories: Primary industries Secondary industries Tertiary industries

12. Primary Industries Are concerned with obtaining or providing natural raw materials for conversion into products for the consumer Concerned with natural resources mining, farming, fisheries, forestry, etc.

13. Secondary Industries Convert the raw materials provided by primary industry into finished goods (consumer or capital goods) Manufacturing industry Use capital resources

14. Tertiary Industries Concerned with selling the good. Transport it to store, market it, sell it, deliver it, repair it A vital link between the producer and the consumer

15. Remember Production refers to the production of goods AND services education (teachers), medical care (doctors, nurses), entertainment (performers), travel (tour guide), etc. are all a part of production.