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Economic Geography.  Economics is the study of how individuals, businesses and nations make things, buy things, spend money and save money. Goods – stuff.

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Presentation on theme: "Economic Geography.  Economics is the study of how individuals, businesses and nations make things, buy things, spend money and save money. Goods – stuff."— Presentation transcript:

1 Economic Geography

2  Economics is the study of how individuals, businesses and nations make things, buy things, spend money and save money. Goods – stuff we make, Services – things we do for others  Economies are defined by who makes the decisions about how things work.  Basic questions – what should be produced, how should it be produced, who should get what is produced?

3 Traditional Economy  Economic Decisions – made based on custom or beliefs handed down. Individuals do not choose.  Production – custom and tradition. New ideas discouraged and change happens slowly.  Private property – owned by village or family.  Trade – little trade with outside.  Goal – survival; basic needs

4 Free Enterprise/Capitalist/Free Market  Private Property – individuals own property and can use as they see fit.  Role of Government – people can have any type of business and attract customers as they think best – govt provides money system, etc.  Supply and Demand – determines prices and production  Goal – make money

5 Communist/Command Economy  Role of Government – decisions on production, distribution, and use of resources made by government. Develop a “plan”  Private Property – government owns all land, factories, farms, and resources  Cooperation – everyone cooperates and shares equally in what is produced (govt runs)  Major Goal – equality among all; classless society

6 Socialist/Mixed Economy  Role of Government – use power to end poverty by providing public services  Economic Decisions – Major decisions by government, others made by individuals  Private Property – major industries are owned by government, other property is private  Major Goal – fairness. Basic needs met by government for free or low cost but there is still room for profit

7 A note on economic types…  In the real world, no nation is able to follow any one economic system. Most countries have a blend of each.  Countries can be place on a spectrum to show how actively government intervenes in the economy.

8 Where would you classify each economic system? Government control and ownership Central Planning Maintaining govt control Elimination of classes Private ownership Profit motive Competition Supply and Demand Individuals Decide

9  Time to practice….more scenarios….  What type of economic system does each nation have and where would it go on the economic spectrum?

10 Where do you think these nations might go?  Cuba, Norway, Hong Kong, USA Government control and ownership Central Planning Maintaining govt control Elimination of classes Private ownership Profit motive Competition Supply and Demand Individuals Decide  What about North Korea or Japan

11 Some Visuals - What type of system is represented?

12 What do economies actually do? Or Types of economic activity Traditional  Subsistence Agriculture – growing enough to feed ones own family. Slow or no economic growth  Cottage industries – things made by hand in spare time or off season. All others All others  Commercial agriculture – large scale, a few crops, meant to sell for money not to feed family.  Commercial industries – factories and large scale manufacturing using equipment and technology

13  Natural resources 1. Renewable – can be replaced. Examples? 2. Non-Renewable – cannot be replaced. Examples? 3. Inexhaustible – never run out. Examples?  Education/Skills  INFRASTRUCTURE 1. Transportation 2. Communication 3. Technology – all kinds So what do economies need to develop????

14 So what does Physical Geography have to do with all this?  Resources are definitely linked to geography  Infrastructure – how hard is it to create and do you have the resources?  What about climate, landforms, etc.

15 Patterns and Processes – what can you start to see  Are there patterns related to physical geography?  Patterns related to political geography – especially forms of government?  Patterns related to population – remember population describes “who” not just “how many”?

16 So now we have a system….  We have classifications of various economic systems, but we haven’t actually made a thing or exchanged a service.  So, economies are not only defined by the TYPE, but by levels of activity…somehow we know a nation of farmers is different from a nation of engineers….

17 Levels of Economic Activity  Economic activities are divided into levels based on the approximate level of development they represent.  The levels represent how goods are produced as well as the employment structures of different societies.

18 Levels, Part 1  Primary: Economic activities that gather or collect natural resources directly. –Examples: Farming, fishing, forestry, mining  Secondary: Economic activities that process natural resources after they’re gathered. –Examples: Manufacturing, oil refining, food processing, etc.

19 Levels, Part 2  Tertiary: Often called “service industries”; this level includes providing services directly to people as well as selling processed goods. –Examples: Teaching, government, restaurants, retail stores, entertainers, etc.  Quaternary: Provide information, management, and research services by highly-trained persons. –Examples: Researchers, economists, university professors, etc.

20  Time to practice……classifying levels of economic activity.  And a little thinking….which types of economic activity are you most likely to see in the United States? Haiti? Norway? Afghanistan?  So…what conclusion can you draw about levels of economic activity and how people live?

21 Mental Map Activity Using a blank sheet of paper (or Inspiration), you are to make a mental map depicting how a natural resource will pass through all the economic levels. You are to: 1) Pick the Natural Resource 2) Draw a visual representation of what the primary, secondary, and tertiary level of economic activity would look like (i.e. pick axe and a man for mining, employee at MacDonald's selling a hamburger) 3) On the Quaternary Square, depict what kind of decisions would be made in the realm of research or management


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