1. Economic Activity

2. Types of Economic Activities

3. Primary Economic Activity
Fishing- tuna fishing
Forestry
Mining/drilling
Agriculture (based on land and climate)
50% of less developed countries
15-20% newly industrialized
<8% of developed countries
Commercial Agriculture: produced to sell
Subsistence Ag.: provide for your family

4. Primary Economic Activity cont’d…
Subsistence Farming
Grow enough for family or village
Commercial Farming
Use modern techniques
Only small # of workers needed
Found in all countries
Plantations- found in newly industrialized
Who owns most plantations?
In less developed countries, large corporations, foreign investors owns the plantations

5. Secondary Economic Activity
Manufacturing- Industry
Takes raw material and turns into a finished products
Tuna into Canned Tuna
What are some examples of manufacturing in the United States? In what regions? Cities?

6. Tertiary Economic Activity
The Service Industries
Transportation
Sales
Advertising
Government-some
Health Care
Banking
Education- some

7. Quaternary Eco Activities
Collecting, processing and distributing information
government, culture, libraries, scientific research, education, and information technology.

8. Stages of Economic Activity
Developed Country
Modern Technology
Mostly Tertiary Eco. Activities (Service)
Well developed economy
GDP per Capita:
USA $46,000
Has sustainable development
Outsourced manuf. when costs can be cut.
Less Developed
Limited modern technology
Dependent on developed countries for manufactured goods.
GDP per capita: ~$1000
Mostly primary and secondary eco. activities
Newly Industrialized
Mexico $15,600 (2012)
13% Agric

9. Zimbabwe- What stage am I?
$ GDP per capita
66% Agric.
38% urban
3.8 Fertility rate

10. Know these front and backwards!!!
Primary- Agriculture
Secondary- Manufacturing (industry)
Tertiary- Service
Quaternary- data

11. USA 1.1% Agriculture (primary) 22.1 % Manufacturing
76.8% Service (Tertiary)
Can U say “Sustainable development”
Hmmm
Monaco 95% service!!!
Mexico(Newly Indust) 13% Agric, 24% Manuf., 63% Service
Bangladesh 18% Agric,28% Manuf., 52% Service
Zimbabwe(less developed) 66% Agric,
10% manu., 24% Service

12. Primary
What are some examples of raw materials in your community? What kind of finished product can be made from this?

15. Standard of Living (Daily Life)- look at all these things
Life expectancy
Infant mortality rate
GDP per capita
# of people per car
Energy consumption
Literacy rate

16. Traditional Economy
cottage industry

17. Human Resources Capital Resources
Workers- a country’s greatest resource! YOU!
Capital Resources
Machines
Money (Investments)
Buildings
Compare a contractor with a hammer and nail to one with lumber, a toolset and backhoe.
Which one represents the less developed country?
Which one represents the developed country?

18. Supply and Demand As the price goes up, what happens to the demand?
Real life-
As the price is reduced, what happens to the supply of goods?

19. Economic Systems answer these questions…
What will be produced?
How much will be produced?
How will it be distributed?
What will it cost?

20. Total government control
Economic Spectrum
Total government control
No government

21. Economic Spectrum No government Strong Government Command Ec Communism
Karl Marx
Gov’t regulates all
Central planners
Socialism/ Mixed
Free-Market
Capitalism
based on profit
private ownership
entrepreneurship

22. Matching: Communism, socialism, capitalism, traditional
Consumers make the decisions
Welfare state
Free doctors visit
CNN, Fox, Comcast, Ixfinity, CBS, ABC, NBC
Clay pots from hand
Profit is motive for doing well
Community farms
Reebok, Nike, Addidas,…
No social classes
Follow parents line of work
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