Introducing Industry and Economic Development AP Human Geography Industrialization and Economic Development
For today, 02/15 Go to Socrative.com, ROOM 262479, and finish the activity within the first 5 minutes of class. You should be ready to jot down a few notes afterwards
Why do economic systems exist? (1.) To determine what to produce. (2.) To determine how to produce. (3.) To determine who gets produced goods.
Defining a Country’s Economy * Every country’s economy lies on a continuum between command and market economies. The difference between these two terms has to do with the amount of government involvement in economic affairs. N. Korea Singapore Hong Kong Russia Sweden U.S.A. Cuba China Command Market
Traditional Economy Goods made for selves and families (subsistence) Typically found in rural, sparsely settled areas – it is NOT practiced by any individual country Amazon Rain Forest Masai of Tanzania Papua New Guinea
United States Norway Argentina Egypt China Rwanda Colombia France Vietnam Cuba New Zealand Ethiopia