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ECONOMIC SYSTEMS AND ACTIVITIES

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Presentation on theme: "ECONOMIC SYSTEMS AND ACTIVITIES"— Presentation transcript:

1 ECONOMIC SYSTEMS AND ACTIVITIES

2 *PRIMARY ECONOMIC ACTIVITY
TAKES SOMETHING DIRECTLY FROM THE EARTH

3 *SECONDARY ECONOMIC ACTIVITY
MAKES SOMETHING MORE USEFUL OR VALUABLE

4 *TERTIARY ECONOMIC ACTIVITY
PROVIDES SERVICES

5 *QUATERNARY ECONOMIC ACTIVITY
PROCESSES AND DISTRIBUTES INFORMATION

6 PROVIDES SERVICES (INTANGIBLES) RATHER THAN GOODS (TANGIBLES)
*SERVICE INDUSTRY PROVIDES SERVICES (INTANGIBLES) RATHER THAN GOODS (TANGIBLES)

7 *SUBSISTENCE AGRICULTURE
FARMING IN WHICH JUST ENOUGH IS PRODUCED TO MEET NEEDS – VERY LITTLE EXTRA TO SELL OR TRADE (GROW TO EAT TO LIVE)

8 *COMMERCIAL AGRICULTURE
LARGE SCALE FARMING WHERE FOOD IS GROWN TO SELL

9 LARGE SCALE PRODUCTION OF GOODS TO SELL
*COMMERCIAL INDUSTRY LARGE SCALE PRODUCTION OF GOODS TO SELL

10 SMALL SCALE INDUSTRY BASED IN THE HOME
*COTTAGE INDUSTRY SMALL SCALE INDUSTRY BASED IN THE HOME

11 *TECHNOLOGICAL INNOVATION
NEW, ADVANCED PRODUCT OR IDEA BASED ON MODERN SCIENCE

12 *INFRASTRUCTURE SYSTEM OF ROADS, PORTS, UTILITIES, ETC. NEEDED FOR A SUCCESSFUL COUNTRY (THE BONES OF A COUNTRY)

13 MACHINE POWER REPLACES ANIMAL POWER
*INDUSTRIALIZATION MACHINE POWER REPLACES ANIMAL POWER

14 *LESS DEVELOPED COUNTRIES
COUNTRIES THAT ARE NOT ECONOMICALLY PRODUCTIVE AND HAVE A LOW STANDARD OF LIVING

15 *NEWLY INDUSTRIALIZED COUNTRIES
A FEW MODERN CITIES AND MANY POOR RURAL AREAS

16 *MORE DEVELOPED COUNTRIES
COUNTRIES WITH A HIGH STANDARD OF LIVING AND A HIGH LEVEL OF INDUSTRIALIZATION

17 PERCENTAGE OF PEOPLE WHO CAN READ AND WRITE
*LITERACY RATE PERCENTAGE OF PEOPLE WHO CAN READ AND WRITE

18 *LIFE EXPECTANCY AVERAGE NUMBER OF YEARS A PERSON BORN IN A CERTAIN YEAR IS EXPECTED TO LIVE

19 *INFANT MORTALITY RATE
NUMBER OF BABIES WHO DIE BEFORE AGE ONE FOR EVERY 1,000 LIVE BIRTHS

20 MEASURE OF QUALITY OF LIFE (INCOME, EDUCATION, FOOD, ETC.)
*STANDARD OF LIVING MEASURE OF QUALITY OF LIFE (INCOME, EDUCATION, FOOD, ETC.)

21 *HUMAN DEVELOPMENT INDEX (HDI)
RANKING OF COUNTRIES ACCORDING TO THEIR STANDARD OF LIVING

22 *GROSS DOMESTIC PRODUCT
TOTAL VALUE OF GOODS AND SERVICES PRODUCED WITHIN A COUNTRY (GDP) *PER CAPITA AVERAGE PER PERSON *GROSS NATIONAL PRODUCT TOTAL VALUE OF GOODS AND SERVICES PRODUCED BY A COUNTRY (ANYWHERE) (GNP)

23 *SCARCE DEFICIENT IN QUANTITY OR NUMBER; NOT ENOUGH

24 PAPER MONEY/COINS USED TO EXCHANGE FOR GOODS/SERVICES
*CURRENCY PAPER MONEY/COINS USED TO EXCHANGE FOR GOODS/SERVICES

25 *CAPITAL GOODS (SOMETHING) USED TO PRODUCE OTHER GOODS EXAMPLES: MONEY, MACHINERY, PEOPLE

26 DIFFERENCE BETWEEN THE VALUE OF A COUNTRY’S IMPORTS AND EXPORTS
*BALANCE OF TRADE DIFFERENCE BETWEEN THE VALUE OF A COUNTRY’S IMPORTS AND EXPORTS

27 * TRADE SURPLUS VALUE OF EXPORTS IS GREATER THAN VALUE OF IMPORTS (MAKING MORE MONEY THAN YOU ARE PAYING)

28 *TRADE DEFICIT VALUE OF IMPORTS IS GREATER THAN VALUE OF EXPORTS (PAYING MORE MONEY THAN YOU ARE MAKING)

29 *TARIFF *QUOTA TAX ON IMPORTS/EXPORTS
LIMIT ON THE AMOUNT OF A PRODUCT THAT CAN BE IMPORTED

30 *IMPORTS *EXPORTS PRODUCTS BOUGHT BY A COUNTRY FROM OTHER COUNTRIES
PRODUCTS SOLD BY A COUNTRY TO OTHER COUNTRIES

31 REGION WHERE COUNTRIES AGREE TO REDUCE OR ELIMINATE TRADE BARRIERS
*FREE TRADE ZONE REGION WHERE COUNTRIES AGREE TO REDUCE OR ELIMINATE TRADE BARRIERS

32 PEOPLE CHOOSE WHAT TO BUY AND SELL SUPPLY AND DEMAND
*MARKET ECONOMY PEOPLE CHOOSE WHAT TO BUY AND SELL SUPPLY AND DEMAND

33 BUSINESSES, INDUSTRIES, AND RESOURCES ARE PRIVATELY OWNED
*CAPITALISM BUSINESSES, INDUSTRIES, AND RESOURCES ARE PRIVATELY OWNED

34 *FREE ENTERPRISE PEOPLE OWN THE MEANS OF PRODUCING AND DISTRIBUTING GOODS AND SERVICES; COMPETITION DETERMINES PRICES; PEOPLE HAVE THE RIGHT TO SUCCEED OR FAIL

35 BASED ON CULTURAL TRADITIONS; OFTEN SUBSISTENCE ECONOMY
*TRADITIONAL ECONOMY BASED ON CULTURAL TRADITIONS; OFTEN SUBSISTENCE ECONOMY

36 *COMMAND ECONOMY GOVERNMENT OWNS AND CONTROLS MOST PRODUCTION AND DISTRIBUTION (USUALLY ASSOCIATED WITH COMMUNISM)

37 *SOCIALISM REDISTRIBUTES WEALTH
GOVERNMENT OWNS AND CONTROLS MEANS OF PRODUCING GOODS


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