Resources and their Significance SOL 7

Resources The sum total of assets that determine if a country is rich or poor. Resources are either Natural- found in nature Human- produced by man Capital-money

RESOURCES:

Natural Resources Renewable and Nonrenewable

RENEWABLE RESOURCES: Renewable resources are those which can be regenerated. Example:

NON-RENEWABLE RESOURCES: Non renewable resources are those which cannot be regenerated once they are exhausted. Examples: mineral elements, coal, oil & natural gas.

Human Resources: A human resource is a person providing labor or service and includes his/her skills and abilities. Examples- Level of education Skilled or unskilled labor Entrepreneurial or managerial abilities

Capital Resources: -A capital resource is generally accepted as any asset used to produce a good or service Examples- MONEY-needed for investment in the construction of new businesses, etc. And to loan to people to build new homes Equipment- tools, machines, and technologies (computers, etc) Infrastructure (next slide)

Infrastructure: Basic support system that helps keep a country running For example: schools, hospitals, roads, sewage system, trash collection, airports

Number 1-15 on a sheet of paper Resources Quiz Number 1-15 on a sheet of paper

1. A. Human, B. Capital, C. Natural

2. A. Human, B. Capital, C. Natural Two possible answers

3. A. Human, B. Capital, C. Natural

4. A. Human, B. Capital, C. Natural A diamond.

5. A. Human, B. Capital, C. Natural

6. A. Human, B. Capital, C. Natural

7. A. Human, B. Capital, C. Natural

8. A. Human, B. Capital, C. Natural

9. A. Human, B. Capital, C. Natural

10. A. Human, B. Capital, C. Natural Oil Well (two possible answers)

11. A. Human, B. Capital, C. Natural

12. A. Human, B. Capital, C. Natural

13. A. Human, B. Capital, C. Natural.

14. A. Human, B. Capital, C. Natural. Wall Street Stock Exchange

15. A. Human, B. Capital, C. Natural. Lump of coal

Resources Quiz Answers

A. Human, B. Capital, C. Natural

A. Human, B. Capital, C. Natural Two possible answers

A. Human, B. Capital, C. Natural

A. Human, B. Capital, C. Natural A diamond.

A. Human, B. Capital, C. Natural

A. Human, B. Capital, C. Natural

A. Human, B. Capital, C. Natural

A. Human, B. Capital, C. Natural Laborers

A. Human, B. Capital, C. Natural

A. Human, B. Capital, C. Natural Oil Well (two possible answers)

A. Human, B. Capital, C. Natural

A. Human, B. Capital, C. Natural

A. Human, B. Capital, C. Natural.

A. Human, B. Capital, C. Natural. Wall Street Stock Exchange

A. Human, B. Capital, C. Natural. Lump of coal

Levels of Economic Activity

Primary (first level) Dealing directly with resources fishing farming ( number 1 occupation in the world) forestry mining

Secondary (second level) Manufacturing and processing steel mills automobile assembly sawmills food processing

Tertiary (third level) Services transportation retail sales information systems professionals

SECONDARY ACTIVITY LEVELS: PRIMARY ACTIVITY LEVELS: Think of the “ripple effect” and how the first ripple (primary) affects the rest of the ripples TERTIARY ACTIVITY LEVELS: These are jobs or activities that serve others - sometimes even selling or maintaining products from the secondary level: salesperson truck driver banker/ lawyer SECONDARY ACTIVITY LEVELS: These industries use the raw materials in production of a greater value handcrafts furniture manufactured goods PRIMARY ACTIVITY LEVELS: These activities or occupations depend on natural resources for production farming fishing lumber

Complete the table Primary (First) Secondary (Second) Tertiary (Third) Tomato farmer

Complete the table Primary (First) Secondary (Second) Tertiary (Third) Tomato farmer Pizza Sauce

Selling pizza in a restaurant Complete the table Primary (First) Secondary (Second) Tertiary (Third) Tomato farmer Pizza Sauce Selling pizza in a restaurant

Complete the table Primary (First) Secondary (Second) Tertiary (Third) Cotton farmer

Complete the table Primary (First) Secondary (Second) Tertiary (Third) Cotton farmer Textile manufacturer

Complete the table Primary (First) Secondary (Second) Tertiary (Third) Cotton farmer Textile manufacturer Selling t-shirts

Complete the table Primary (First) Secondary (Second) Tertiary (Third) Fisherman Canned tuna, salmon Fish sticks Restaurants Kroger

Complete the table Primary (First) Secondary (Second) Tertiary (Third) Drilling for oil

Complete the table Tomato farmer Worker makes tomato sauce Employee in Pizza Restaurant Cotton Farmer grows cotton Textile Manufacturer makes a shirt Salesperson makes sale in the Gap Fisherman catches fish Person Processes fish filets Fish sold in restaurant Worker operates oil well Oil is refined to make gasoline Gasoline is purchased at a service station