Download Economies Around the World

Economies Around the World
Homework
• Study for quiz… 4 kinds of
industries… Tuesday
• Work on study guide
Industries
Primary
Secondary
Tertiary
Quatenary
Do Now
Lesson Essential
Question: What are the
different industries and
economies around the
world?
Vocabulary
• industry: all of the businesses that make one
•
•
•
kind of product or provide a service
developed countries: established economies with
all 4 kinds of industries
developing countries: country with fewer
industries
GDP: gross domestic product (measure of total
value of goods and services a country produces)
Primary Industry
natural resources
farming: Delmonte, Green Giant, Hanover
fishing
logging
mining
brings natural resources (raw) to market
Primary Industry
• Extract raw materials (which are natural
products) from the land or sea e.g. oil,
iron ore, timber, fish.
• Mining, quarrying, fishing, forestry, and
farming are all example of primary
industries.
Your Turn
Think of 3 local primary
industries in our area.
Share Out
Secondary Industries
natural + raw= finished product
iron ore= steel (Bethlehem Steel Mill)
cotton= clothing (Gap, Old Navy,
Aeropostale)
petroleum= gasoline (Texaco, BP, Gulf)
Secondary Industry
• Involve the manufacture of raw materials,
into another product by manual labour or
machines.
• Secondary industries often use assembly
lines e.g. a car factory
Tertiary Industries
• sells and transport natural resources
from primary industries and finished
products from secondary industries
Stores and trucking (transportation)
companies
Tertiary Industry (Service
Industry)
• Neither produce a raw material nor make
a product.
• Instead they provide services to other
people and industries.
• Tertiary industries can include doctors,
dentists, refuse collection and banks.
Tertiary Industries
• education
• health care/medical fields
• banking
• hairstylists
(service jobs)
Quaternary Industries
• Involve the use of high tech industries.
People who work for these companies are
often highly qualified within their field of
work.
• Research and development companies are
the most common types of businesses in
this sector.
• http://revisionworld.com/gcse-revision/geography/industry/different-types-industry
First
The raw material cotton is
extracted by primary industries
The cotton may then be turned
into an item of clothing in the
secondary industry.
Next
The cotton may then be
turned into an item of
clothing in the secondary
industry.
Then
Tertiary industries may
advertise the goods in
magazines and
newspapers.
Lastly
The quaternary industry may
involve the product being
advertised or researched to
check that the item of clothing
meets the standards that it
claims
Developing Countries
• May not have all 4 industries
• Limited natural resources
• Limited education institutions
• Few interstates, railroad systems, bridges,
airports, paved roads
• Limited international trade and commerce
Developed Countries
• variety of industries, businesses
• educational institutions
• strong infrastructures
• strong economy
• established government
• high GDP
Gross Domestic Product
Measure of the total value of goods and services a
country produces
(measure of a country’s economy)
•
•
•
•
United States
Germany
Italy
China
Standard of Living
• a measure of how well its people live
(measure of a country’s economy)
average person’s income
how much people spend and save
Traditional Economy
• Little change
• Same kinds of jobs/work as early
generations
• Based on custom or habit
Subsistence Farming
• Growing only enough food for themselves
and families
• Therefore, not able to buy better tools
farming techniques
• Africa
• Asia
• South America
Command Economy
• government or central authority makes
decisions
• controls farms, factories
• dictates what is made, how much and
salaries
• Cuba