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Oskooi - World Geography - Category 4

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
Economic   Anything to do with money, jobs, commerce  
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Scarcity   Limited quantities of resources to meet unlimited wants  
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Traditional Economies   Farming, hunting, bartering  
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Primary economic activities   Direct use of natural/raw resources such as mining or agriculture  
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Secondary economic activities   Use of natural/raw resources to make consumer products, such as manufacturing  
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Tertiary economic activities   People-based activities, such as service jobs like waitresses or retail sales  
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Quaternary economic activities   Highly skilled professions which deal with movement and processing information such as specialized researchers  
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Economic spectrum   Scale describing the amount of government and/or private influences on the distribution and use of factors of production  
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Subsistence agriculture   Farming to feed immediate family only  
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Commercial agriculture   Large scale farming done for profit  
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Commerce   The buying and selling of goods or services  
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Manufacturing   Mass production of goods using machines  
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Goods   Agricultural and manufactured products  
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Services   Actions or activities one person performs for another  
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Cottage industry   Home or village-based production  
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Commercial industry   Factory-based production  
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Free enterprise   Market system, capitalism, individuals own means of production, economic decisions are made based on market forces (supply, demand, profit margin), individuals support limited social programs through taxes or charity donations  
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Socialist   Mixed, combination of government and private ownership of the means of production, government provides a number of social programs funded by higher taxes, government and individuals make economic decisions  
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Communist   Command system, government owns the means of production, economic decisions are made by central government, and government provides extensive social programs for population  
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Regulations   Government rules and restrictions affecting business and development  
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Free trade zones   A region where a group of countries has agreed to reduce or eliminate trade barriers  
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Infrastructure   Public systems that assist commerce; such as port or power grid  
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Transportation   Methods used to move people and goods and their supporting systems (i.e. railroads, airlines, highway system)  
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Technology   Application of tools or science to make life easier  
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Innovation   New way of doing something; inventions  
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Desalinization   Technology to remove salt from ocean water  
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Outsourcing   When one company hires another to perform a specific function, often using international sources to reduce labor costs  
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Global Positioning System (GPS)   Technology utilizing satellites in earth orbit to calculate and display accurate location, speed, and time information to the user  
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Geographic Information Systems (GIS)   Spatial information systems which map database information  
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Created by: Crackalack
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