1. Chapter 2 - Lesson 3 C Governments and Economies Chapter 2 Patterns of Life

2. Just as government can be classified into different types, the economies of the world can also be classified, based on industries The four main kinds of industries are Primary, Secondary, Tertiary, and Quaternary Economies Around the World pg 70 - 72 Industry – all the businesses that make one kind of product or provide one kind of service

3. Economies Around the World pg 70 - 72

4. Primary Industries

5. Economies Around the World pg 70 - 72 SECONDARY Industries

6. Economies Around the World pg 70 - 72 TERTIARY Industries

7. Economies Around the World pg 70 - 72 QUARTERNARY Industries

8. Economies Around the World pg 70 - 72 Developing Countries – countries whose economies are still being built. Usually Only have primary and/or secondary industries The kinds of industries in a country can often determine whether a country is developing or developed Because developed countries have more kinds of industries, they produce more goods and services than developing countries do Developing Countries – countries with well established economies. Usually Have all four industries

9. Developed and Developing Countries: Other Governing Systems pg 69 - 70 DevelopedDeveloping U.S.A. Canada Japan Germany Australia Norway England Argentina India Jamaica North Korea Vietnam Tanzania Ghana

10. Economies Around the World pg 70 - 72 The GDP of developed countries is higher than the GDP of developing countries GDP – Gross Domestic Product, the measure of the total value of goods And services a country produces

11. Economies Around the World pg 70 - 72 Another measure of a country’s economy is its Standard of Living The standard of living is indicated by the average person’s income and spending power Spending power is the money left over after you purchase your basic needs

12. How are economies around the world measured? (pg.72)

13. Remember GDP Developing countries Developed countries Industry