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Chap4 Sec2
World Economic Activity
| Question | Answer |
|---|---|
| primary economic activities | an economic activity that takes or uses natural resources directly, such as fishing or mining |
| subsistence farming | farming that provides only enough for the needs of a family or a village |
| commercial farming | the raising of crops and livestock for sale in markets |
| secondary economic activity | an economic activity in which people use raw materials to produce or manufacture new products of greater value |
| cottage industry | a small-scale manufacturing operation using little technology, often located in or near people's homes |
| commercial industry | a large-scale manufacturing operation that employs many people and produces large quantities of goods |
| tertiary economic activity | an economic activity in which people do not directly gather or process raw materials but pursue activities that serve others; service industry |
| quaternary economic activity | an economic activity that focuses on the acquisition, processing, and sharing of information, such as education or research |
| export | an item that is sent out of the country for sale |
| import | an item that is brought into the country for sale |
| GDP | gross domestic product-total value of goods & services produced within a country in a year, including domestic output of foreign firms & excluding output of domestic firms in foreign countries |
| per capital GDP | total value of goods & services produced within a country in a year, divided by the country's total population |
| developed countries | modern industrialized societies, such as France, the USA, and Japan |
| underdeveloped countries | countries with lower levels of prosperity, lacking adequate industries and modern industry-depend on developed countries for many of their manufactured goods |
| developing countries | countries showing evidence of political, economic, and social progress |
| first world countries | developed, capitalist,industrial countries-roughly aligned with the US after WWII, sharing more or less common political & economic interests |
| second world countries | refers to the former communits-socialist industrialized countries ex. Russia,China, eastern europe |
| third world countries | generally identifies countries that suffer from high infant mortality and poverty, low economic development. generally lacking a middle class |
| population pyramid | a bar graph which displays the age and gender distribution of a population |
| multinational corporation | an enterprise operation in several countries but managed from one (home) country |
| infrastructure | the basic support facilities of a community or country, such as roads and bridges, power plants, and schools |
| cap and trade | government issued licenses to pollute that can be bought and sold |
Created by:
mrsbbaum
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