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Unformatted text preview: How economies are organized tasks of an economic society organize to produce enough goods and services to ensure its survival arrange the distribution of production so more production can take place answer what, how, where, to whom, by whom Types of economic sectors primary: e.g. fishing, forestry, mining secondary: process, transform, fabricate or assemble raw materials tertiary: sale and exchange of goods and services, retail professional, educations, health quaternary : handling and processing of knowledge and information How economies are organized formal sector recognized by the state subject to law, regulation, taxation small business to MNCs Informal sector by-pass state tend to be small and or family operations subsistence farmers to urban sellers Dualism exists when extremes of wealth and poverty live side by side in an economy foreign or domestic elites alongside a mass of poorer people Public goods : goods and services that are provided communally, e.g. national defense Public goods : goods and services that are provided communally, e....
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This note was uploaded on 02/01/2010 for the course GEOG 208 taught by Professor Akin during the Spring '10 term at McGill.
- Spring '10