Economic Activities Economic Indicators Levels of Development Economic Development Economic Activities Economic Indicators Levels of Development

Economic Activities Primary 1 - Agriculture, mining Secondary 2 - Manufacturing goods Tertiary 3 - Services Quaternary 4 - Information Processing and management

Economic Activities Production travels up this pyramid. Primary Secondary Tertiary Example- Wood is cut (primary) Made into paper (secondary) Paper sold in store (tertiary) New paper formula created for stronger paper (quaternary) Quaternary Tertiary Secondary Primary

Economic Activities Oh yeah…standard of living is linked with economic activity. Less developed economies are mostly primary activities. Newly industrialized economies are a mix of primary and secondary activities. More developed economies are mostly tertiary and quaternary activities.

Economic development indicators

UN Human Development Index UN Human Development Index is a good index for comparing life in different countries. Highlights uneven development by comparing relative levels of HDI and per capita income Some countries at similar levels of income per capita have vastly different levels of human development.

Demographic Data Birth Rate- important for future planning at a government level. More people need more resources, etc. Population size- Overcrowding or shrinking populations are very serious problems that require different government policies. Infant Mortality Rate- Gives a good idea of how healthy an area’s women and children are. Babies are society’s most vulnerable citizens.

Economic factors GDP- gives a good idea of the value of the total production of a nation. GDP per capita- gives total value of production divided by every person in a country.

Social Factors Literacy Rate- the number of people who can read and write. -Higher or increasing numbers indicate a healthy school system.

Levels of development Less developed- -poorer countries with least amount of infrastructure built. -primary economic activity is the dominant activity; needs less technology -Secondary economic activity is located in isolated areas. ----------------------------------------------------------------------------- High birth and infant mortality rates Increasing population size Low GDP per capita and low literacy rate.

Levels of development Newly industrialized- -poorer countries with a greater amount of infrastructure built. -Primary economic activity is the dominant activity; needs less technology -Secondary economic activity is located in few areas.

Levels of development More developed - -richer countries with a greatest amount of infrastructure built. -Tertiary and quaternary economic activity is the dominant activity; needs more technology --------------------------------------------------------------------------- -Low birth and infant mortality rates stable/shrinking population growth High GDP per capita and high literacy rates

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