Human Geography: Economy, Government, & Globalization ©2012, TESCCC

Discuss and Share What is the idea of economic globalization and interdependence ? ©2012, TESCCC

What is economics? A social science concerned with description and analysis of the production, distribution and consumption of goods and services. Goods: things you use or consume (food, books, cars, cell phones, etc.) these are things you can touch Services: something someone does for you; a service provided for you (haircut, someone fixes your car, someone tutors you, etc.) these are things you cannot touch ProductionDistributionConsumption Goods and Services ©2012, TESCCC

Discuss and Share “The economy today is interdependent, interconnected, and global. With a partner or groups of three: Discuss the possible meaning of this statement, keeping in mind that you are the CEO (chief executive officer) of an automaker. ©2012, TESCCC

A Level Playing Field in Global Economics Interdependence and technology between countries and/or corporations provide a level “playing field” to where everyone is able to participate in a global economy. ©2012, TESCCC

Communism Capitalism Socialism Controlled Economy Government Control Free Market Free Enterprise Low degree of government control Subsistence Agriculture (Farmers grow enough for their family Public Ownership (land and/or natural resources ©2012, TESCCC Economic Systems

Communism (command economy) Socialism Capitalism (Free-Market Economy; Free Enterprise How much control over the means of production (how much to produce/what to produce, to whom/how it is distributed and the overall decision making process Economic Systems ©2012, TESCCC ProductionDistributionConsumption Goods and Services Subsistence Agriculture (Farmers grow enough for their family

Economic Systems Traditional: This economic system is based on hunter-gather or subsistence agriculture Free Enterprise: This economic system is based on private ownership of business and individual decisions on what to buy or sell. Command Economy: This economic system is based government control of businesses and decisions regarding types and locations of economic activity and production. Citizens can be assigned or strongly encouraged into various employment. There is little or no private ownership of businesses. Mixed Economy: This economic system forms the array between free enterprise (capitalism) and command economies (communism) with some private ownership and some government control of businesses. ©2012, TESCCC

Economic Activities Primary: Economic activities that extracts natural resources or harvests goods directly with no processing or manufacturing. Secondary: Manufacturing or processing raw materials. Tertiary: Providing a service. Quaternary: Researching, collecting, recoding, storage, exchange, and dissemination of information and data. Services for producers. ©2012, TESCCC

Government Systems Democracy- the ultimate power is derived from the people Dictatorship- power is invested in one single person or group Ex. North Korea and Cuba Monarchy- power is vested in one individual and is typically acquired through heredity Ex. Britain and the Netherlands ©2012, TESCCC

Government Systems ©2012, TESCCC Republic- Head of the government is not a monarch. They can be democratic, theocratic, or parliamentary. In China representatives are chosen at the local level, local officials then vote for national leaders, all chosen from the communist party. Theocracy-a system of government in which priests rule in the name of God or a god. Totalitarian- a form of dictatorship that seeks to control all aspects of social life within a country. Ex. Nazi Germany and North Korea

Subsistence Agriculture Commercial Agriculture ©2012, TESCCC

Define and Compare Cottage Industries Commercial Industries ©2012, TESCCC