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Group 3 - Resources

Group 3 Resources and Levels of Economic Activity

Commercial Farming The raising of crops and livestock for sale in markets
Fossil Fuel Any one of several nonrenewable mineral resources formed from the remains of ancient plants and animals and used for fuel.
Renewable Resources A natural resource that the environment that continues to supply or replace as it is used.
Quaternary Economic Activity An economic activity that focuses on the acquisition, processing, and sharing of information, such as education or research.
Primary Economic Activity An economic activity that takes or uses natural resources directly, such as fishing or mining.
Non-renewable Resources A natural resource that cannot be replaced once it is used.
Secondary Economic Activity An economic activity in which people use raw materials to produce or manufacture new products of greater value.
Subsistence Farming Farming that provides only enough for the needs of a family or a village.
Trade Balance favorable balance between imports and exports. too many exports can hurt the nation's economy and too many imports can cause too much debt.
Tertiary Economic Activity An economic activity in which people do not directly hater or process raw materials but pursue activities that serve others; service industry. (like doctors, truck drivers and police officers0
Created by: murphy1717