BR: T3D15 What are renewable resources vs. nonrenewable resources? Give some examples of each:

World Geography Ch. 3.3 Resources, Technology & World Trade The world has a limited supply of many resources. And we as countries engage in trade to share them.

Natural Resources The world has lots of resources, but many are limited. Natural resources are materials found here on the earth that we people use for our needs, such as soil, trees, water, etc. These natural resources are divided into two main categories: 1) Renewable resources, which can be easily replaced or not used up. These include wind, the sun, water, etc. Wood is also renewable, as it grows back. Finite, or limited resources are called 2) nonrenewable resources. Fossil fuels, like gas, oil, etc., are an example, as are other minerals, like gold, iron, etc. All of these resources are important and useful.

Economies & Trade Economic Systems help societies answer three basic questions: What goods & services to produce? How to produce them? Who will receive them? There are 4 main types of economies, which attempt to answer these questions; they are: Traditional Economy Command Economy Market Economy Mixed Economy VID

Developed & Developing Countries Another way to look at economies is by how developed they are. A developed country has a mix of agriculture, lots of manufacturing, and service industries. Service industries include banking, health care, etc. They provide services, rather than tangible products. Developed economies depend heavily on new technology, workers make (relatively) high incomes. Examples include the United States, Japan, and France. Other countries have less developed economies, and these are called developing countries. They often have little industry, and agriculture is the primary economic activity. Incomes are generally low. Examples: Guatemala, Sierra Leone, Cambodia. Think-Pair-Share: So why is this? VID

Trade Trade, the action of buying and selling goods and services, is very important as part of the health of a country’s economy. This allows countries to export, or sell the resources they have a lot of, and import, or get the ones they don’t have. So what are some barriers to trade? One of them is tariffs, which is a tax on imported goods. This encourages consumers in a country to buy less expensive alternatives made in their own country. A quota is similar, in that it limits how much of a particular product can be imported into a country.

Interdependence & Technology In recent years, free trade has been the trend. Free trade is the idea that countries ought to limit restrictions they place on trade. NAFTA, the North American Free Trade Agreement, removed most trade restrictions between the U.S., Canada, and Mexico. Yet as Trump and Brexit have shown, some people believe that Free Trade leads to problems for more developed countries, so the future for free trade remains unknown. VID As globalization has increased, the world’s countries have become increasingly interdependent on each other. Thus, if there is a war, disaster, etc. in one country, it is much more likely to have an effect in other countries too. This has resulted from our increased technology which allows us to communicate and transport goods very easily from one country to the next.

HW: None. We will be having a review and test on based on Ch. 3: Earth’s Human and Cultural Geography. Kahoot: