Lecture 14 - Economic Geography Lecture 14- Geography 103...

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Economic Geography Lecture 14- Geography 103 Fall 2011
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Economic Geography The study of: how people earn their living how livelihood systems vary by area how economic activities are spatially interrelated and linked.
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What are economies made of? Material Goods: (stuff we can touch): food, shelter, clothes, phones, art, jewelry, etc. Services: (things we do but can’t necessarily touch): teaching, childcare, healthcare, accounting, entertainment, administration, etc
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Economic Systems Three types Subsistence Commercial Planned
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Economic Systems Subsistence economies: goods and services created for the producers or their families little exchange of goods production based on need and use
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Economic Systems Commercial economies: producers freely market their goods and services supply and demand determine price and quantity, and market competition is the primary force shaping production decisions and distributions
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Economic Systems Planned economies: goods and services distributed and regulated through government-controlled agencies supply and price regulated by the state production determined by need based on perceptions of state regulators (Cuba, North Korea, Myanmar etc.)
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Very few people in the world are members of only one type of economic system. Independent street merchants, shop owners, and most farmers in modern China are members of both a planned and market system.
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Types of Economic Activities Primary Secondary Tertiary Quaternary Quinary
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Economic Activities Primary: Those that harvest or extract something from the earth
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Primary Activities: Agriculture Subsistence agriculture: Production of food primarily for consumption by the farmer’s family Commercial agriculture: Production of food primarily for sale off the farm
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This note was uploaded on 02/22/2012 for the course GEOG 103 taught by Professor Cook during the Fall '10 term at South Carolina.

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Lecture 14 - Economic Geography Lecture 14- Geography 103...

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