1. Economic Geography Question: How are economic activity and level of development interrelated?

2. Levels of Economic Activity Primary – involve gathering raw materials (ex. cutting lumber) Secondary – involve adding value to materials by changing their form (ex. manufacturing cars) Tertiary – involve providing business or professional services (ex. accountant) Quaternary – involve providing information, management, and research services by highly trained persons (ex. physicist)

3. –Traditional Economy : Goods and serviced traded without money bartering

4. –Communistic Economy : Production of goods and services are determined by a central governmentProduction of goods and services are determined by a central government You will only make blue chairs! We will sell them for $20 each.

5. We want rolling chairs! We will make rolling chairs! And make $$$$ Market Economy: determined by supply and demand

6. Levels of Development More developed –Post industrial US Western Europe Newly industrialized –Mostly industrial or manufacturing Latin America Less developed –Mainly agricultural India Africa

7. 1/1000

10. Economic support system Infrastructure: –Basic support system to keep an economy running. –Includes power, communication, transportation, water, sanitation, and education systems Per capita income: –Average amount of money earned by each person in a political unit GNP Gross National ProductGross National Product Total value of all good and services produced by a country (per year) –Example: an American company which makes its product in India GDP Gross Domestic ProductGross Domestic Product Total value of all goods and services produced within a country (per year) –Example: an American country that makes is product IN America

11. Natural Resources and the Economy Levels of activity also depend on resources available. Natural resources may be divided into: –Renewable –Renewable – Can be replaced through natural processes (ex. trees) –Non-renewable –Non-renewable – Cannot be replaced (ex. metal) –Inexhaustible –Inexhaustible – Cannot be used up (ex. solar energy)