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World Geo Review #6

Reporting Category 6: Economics, Technology, Society

TermDefinition
Free Enterprise Economy (Capitalism) people work freely to produce and buy what ever that want
Socialist Economy (Mixed Economy) government owns some f the basic industries
Communist Ecology (Command Economy) the government sets and controls economic goals of the country
Subsistence Agriculture producing enough to feed the farmer and his family
Commercial Agriculture practiced in MDC; uses expensive technology, fertilizers and pesticides; crops are grown to sell and meet the demands of the marketplace
Cottage Industry making traditional craft items/goods by hand from homes, small-scale in rural areas and low use of technology
Primary extraction of resources from the Earth EX: mining, agriculture, fishing
Secondary making/refining products from raw minerals EX: manufacturing
Tertiary providing services EX: teachers, bankers
Quaternary information processing and management EX:research
Manufacturing making products from raw materials
Service things that people do for others such as plumbers
Scarcity of Natural Resources the location of scare natural resources can make an area very impotant
Energy access to significant forms of energy allows countries to experience industrialization
Air-Conditioning has allowed people to live in areas they haven't been able to before
Desalinization the process that separates the saltwater to create fresh drinking water
Agriculture Technology advances in the area have allowed for: more drought resistant types of grain, better tractors, and new technology to increase commercial crops
GPS with the use of satellite technology, people have help for navigation devices
GIS computers help store and utilize data
Medical Advancements with increases in medical technology, people are loving longer
Trade Patterns (changing) with new transportation options, trade is becoming easier
Outsourcing hiring companies outside the U.S. to preform some of the work for American companies
Free-Trade Zones when countries create an association that allows them to trade freely with each other
Created by: ZebraQueen12