Economic Activity Interactive Student Notebook ISNR 1 Primary

Economic Activity Interactive Student Notebook ISN-R

1. Primary Economic Activity

Primary Industries: Gathering raw material such as timber for immediate use or to use in the making of a final product. Examples: Petroleum Pan for Gold Coal Mining Fishing Cotton

2. Secondary Economic Activity

Secondary Economic Activity: Adding value to materials by changing their form. Examples: Automobile Factory Textile Mill Furniture Manufacturing

3. Tertiary Economic Activity

Salespeople Tertiary Economic Activity: Providing business or professional services. Examples: Teachers Doctors

4. Quaternary Economic Activity

Quaternary Economic Activity: Information, management, and research services by highlytrained persons. Examples: TV, radio, computer advertising Stock market and banking

5. Natural Resources

Forests Natural Resources: The materials on or in the earth that have economic value. Society must have the technology to transform those resources in to goods. Fish

6. Infrastructure

Infrastructure: The basic support systems needed to keep an economy going, including power, water, communications, transportation, sanitation, and education systems. The more sophisticated the infrastructure, the more developed the country.

7. Per Capita Income

Per Capita income: The average amount of money earned by each person in a political unit, used to compare economic standards. Example: Per Capita Income

8. Gross National Product

Gross National Product: GNP: statistic used to measure the economy of a country, the total value of all goods and services produced by a country over a year or some other specified period of time. ? ? “I only wear American made shoes!” ? ? MADE IN TAIWAN

9. Gross Domestic Product

Gross Domestic Product: GDP: the total value of all goods and services produced within a country in a given period of time. American owned American manufactured American profit$$$$$$ Ford and Chevy Trucks

10. Developed Nation

Developed Nation: Countries with a high per capita income and varied economy, especially with quaternary activities such as computer software development. Western European nations have highly developed economies. Examples: Australia Japan

11. Developing Nation

Developing Nation: Nations that have a low GDP and limited development on all levels of economic activities. These countries lack an industrial base and struggle to provide their residents with items to meet their basic needs. Examples: Bangladesh Malawi