Things to Know: 1.People are increasingly interdependent. 2. Natural resources are not evenly distributed, countries must trade. 3. Governments can create OR limit trade barriers. 4. Human economic activities have impact on environment. Resources, Trade, & the Environment

Resources  Natural resources: The elements from the earth that are not made by people but can be used by them for food, fuel, or other necessities.

Natural Resources  Cannot be used up or can be replaced naturally or grown again in a relatively short amount of time.  EX: Wind, sun, water, forests, & animal life  Cannot be replaced  EX: Minerals & Fossil Fuels RenewableNonrenewable

Resource Management  Nonrenewable resources must be conserved.  Immediate Goal: Manage vital resources carefully so that they meet people’s needs, but ensure future generations also have access.  Replace Dependencies: Replace nonrenewable with renewable resources….i.e. Solar energy (sun’s heat)— these things normally take large, expensive equipment to harness.

Activity  er/docs/No16_96-823B.pdf er/docs/No16_96-823B.pdf

A Review on the Sectors of the Economy Economies & Industries

SECTORS OF THE ECONOMY --A nation’s economy can be divided into various sectors to tell us how many people in the population are engaged in certain industries, or types of jobs. --The Primary sector is made up of jobs that have to do with raw materials from the EARTH. --The higher you go up on the sectors, the more technological and modern the positions become.

PRIMARY SECTOR --Extracts or harvests products from the earth --Production of RAW MATERIAL & BASIC FOODS --EX: Agriculture, Mining, Forestry, Farming, Grazing, Hunting & Gathering, Fishing, and Quarrying. --LEVELS OF ECONOMY: Developed & developing countries have a lower percentage of its workforce in the primary sector. --THINK ABOUT THIS….in the mid-1800s, MORE THAN 2/3 of the labor force were primary sector jobs…now 200 years later ONLY ABOUT 3% of U.S. workers are in this sector…WHY DO YOU THINK THIS IS?

SECONDARY SECTOR --Manufactures finished goods --ALL manufacturing, processing, and construction lies within the secondary sector. --EX: Metal working, smelting, automobile production, textile production, chemical and engineering industries, aerospace manufacturing, energy utilities, engineering, construction, breweries & bottlers, construction, and shipbuilding.

TERTIARY SECTOR --SERVICE INDUSTRY --Provides services to the general population and to businesses. --EX: Retail & wholesale sales, transportation and distribution, entertainment, restaurants, clerical services, media, tourism, insurance, banking, healthcare, and law. --IN DEVELOPING & DEVELOPED countries, the number in this sector is growing…In the U.S. 80% of the labor force are in this sector.

QUARTERNARY SECTOR --INTELLECTUAL ACTIVITIES --EX: Activities associated with...government, culture, libraries, scientific research, education, and information technology.

QUINARY SECTOR --HIGHEST LEVELS OF DECISION MAKING IN A SOCIETY OR ECONOMY --TOP EXECUTIVES OR OFFICIALS --EX:GOVERNMENT, SCIENCES, UNIVERSITIES, NON-PROFIT, HEALTHCARE, CULTURE, AND THE MEDIA.

INDUSTRIES Goods VS Services Subsistence VS Commercial Cottage VS Industrial

GOODS VS. SERVICES  A good is something that you can use or consume, like food or CDs or books or a car or clothes. You buy a good with the idea that you will use it, either just once or over and over again.  A service is something that someone does for you, like give you a haircut or fix you dinner or even teach you social studies. You don't really get something solid, like a book or a CD, but you do get something that you need. GOODSSERVICES

Good OR Service

SUBSISTENCE VS. COMMERCIAL  Subsistence farming is when you farm only to sustain yourself or those that depend on you. It is farming for survival, one group of people working to feed themselves.  Modern, or commercial farming is made to feed the masses, be they people or grain for livestock. A commercial farmer makes a profit, other that just food for his family. Commercial farming is a business, where a few feed thousands. SUBSISTENCE FARMINGCOMMERCIAL FARMING

Subsistence OR Commercial

COTTAGE VS. COMMERCIAL  The term cottage industry once formerly applied to manufacturing that took place in people’s homes, prior to the industrial revolution. For example farmers might take in extra sewing or make cloth, which was then sold to a larger retailer, in order to earn a few extra dollars during the slow months of winter.sewing  Products made in an industry for profit— large companies, factories, etc. COTTAGE INDUSTRIESCOMMERCIAL INDUSTRIES

Cottage OR Commercial

Activity  Good or Service

United States VS Canada Compare the culture of the US and Canada Religious Freedom Languages Arts GOVERNMENT ECONOMY Education Entertainment Lifestyles HEALTH CARE

1. What is a theocracy? 2. What are the 4 roles of government? 3. ____________ is determined by the government and are artificial (imaginary lines). 4. ___________ is an independent unit that occupies a specific territory and has full control of its internal and external affairs. Sometimes called “country”. 5. _________ is a type of government that plans and controls the economy and a single authority often holds power. 6. Give an example of a country that has a constitutional monarch. 7. Define totalitarianism. What is it? 8. ___________ is a type of government that developed first in Ancient Greece. Quiz

Definitions needed for Daily Warm-Up Subsidy: Assistance paid to a business or economic sector or producers, most subsidies are made by the government to producers to prevent the decline of that industry Gerrymandering: A practice that attempts to establish a political advantage for a particular party or group by changing geographic boundaries to create political party protected districts