Human Geography: Economy, Government, & Globalization ©2012, TESCCC

Discuss and Share According to Thomas L. Friedman (author of multiple books), From an economist’s perspective: “ the world is flat” ©2012, TESCCC

What is economics? A social science concerned with description and analysis of the production, distribution and consumption of goods and services. Goods: things you use or consume (food, books, cars, cell phones, etc.) these are things you can touch Services: something someone does for you; a service provided for you (haircut, someone fixes your car, someone tutors you, etc.) these are things you cannot touch ProductionDistributionConsumption Goods and Services ©2012, TESCCC

Discuss and Share According to Thomas L. Friedman (author of multiple books), From an economist’s perspective: Currently: “ the world is flat” With a partner or groups of three: Discuss the possible meaning of this statement, keeping in mind that you are the CEO (chief executive officer) of an automaker. ©2012, TESCCC

“the world is flat” Interdependence between countries and/or corporations provide a level “playing field” to where everyone is able to participate in a global economy. ©2012, TESCCC

Communism Capitalism Socialism Controlled Economy Government Control Free Market Free Enterprise Low degree of government control Subsistence Agriculture (Farmers grow enough for their family Public Ownership (land and/or natural resources ©2012, TESCCC Economic Systems

Communism (command economy) Socialism Capitalism (Free-Market Economy; Free Enterprise How much control over the means of production (how much to produce/what to produce, to whom/how it is distributed and the overall decision making process Economic Systems ©2012, TESCCC ProductionDistributionConsumption Goods and Services Subsistence Agriculture (Farmers grow enough for their family

Economic Systems Traditional: This economic system is based on hunter-gather or subsistence agriculture Free Enterprise: This economic system is based on private ownership of business and individual decisions on what to buy or sell. Command Economy: This economic system is based government control of businesses and decisions regarding types and locations of economic activity and production. Citizens can be assigned or strongly encouraged into various employment. There is little or no private ownership of businesses. Mixed Economy: This economic system forms the array between free enterprise (capitalism) and command economies (communism) with some private ownership and some government control of businesses. ©2012, TESCCC

Levels of Economic Activities Primary: Economic activities that extract natural resources or harvests goods directly with no processing or manufacturing. Ex ____________ Secondary: Manufacturing or processing raw materials. Ex. ____________________ Tertiary: Providing a service. Ex ________________ Quaternary: Researching, collecting, recoding, storage, exchange, and dissemination of information and data. Services for producers. ©2012, TESCCC

Developed vs. Developing Countries ©2012, TESCCC High per capita income High GDP (gross domestic product- value of all goods and services produced by a nation in a year) Varied economy Commercial agriculture Technology Health care U. S., Japan, Great Britain Low GDP Limited economic activity (primary) Lack of industry Low life expectancy Subsistence farming and cottage industry Few doctors Zimbabwe, Bangladesh, Afghanistan DevelopedDeveloping

Government Systems Democracy/Republic Dictatorship Monarchy Oligarchy Theocracy Totalitarian ©2012, TESCCC

What two types of agriculture are represented here? ©2012, TESCCC

2 types of agriculture Subsistence Small scale Produce food for family and survival Developing Countries Commercial Large scale Modern farming techniques Make a profit Developed Countries

Subsistence Agriculture Commercial Agriculture ©2012, TESCCC

Define and Compare Cottage Industries Commercial Industries ©2012, TESCCC

Scenario ©2012, TESCCC The country of Brackettopia has a large population. As an agrarian society, it is trying to develop its cattle industry, but lacks the infrastructure to help process its exports. Educating its workforce has been difficult and therefore, unemployment is high. Brackettopia has also had a problem establishing a lasting government, but is focused on making democracy work. Here is the question: Would the economy of Brackettopia be considered developed or developing? What economic activity levels are represented in Brackettopia land?