Economic Geography Government Economy Review Traditional economy Bartering
Economic Geography
Government & Economy Review Traditional economy: Bartering, Little $$, Subsistence Agriculture Communist economy: Socialist economy: Free Market economy: • Government controls economy • Agriculture & Manufacturing • Few choices or incentives • Little $$ or chance for advancement • Combination of Communist & Free Market • Government owns key industries • Lots of government rules/regulations • Social Safety Net Cuba Europe • Supply & demand • Few government rules/regulations • Government stays out of business • All types of jobs • Many incentives • Also known as Capitalism United States Totalitarian Communist Theocracy Dictatorship Absolute Monarchy Constitutional Monarchy 100% Gov’t Power Democracy Constitutional Monarchy 0% Gov’t Power
All Countries Aren’t the Same n n The world is a very diverse place. Many countries are very advanced in a number of ways, while others are not.
What is development? n n Every country in the world is trying to develop It’s not just about money. It’s about living “better”
How can a country improve the quality of life for the people who live there?
Standard of Living n Standard of living tells you how well people live.
How do countries get rich? Countries with more natural resources MIGHT have better economies, but it is not guaranteed Most important factors: Levels of Economic Activity Technology/Innovation Infrastructure Stable Government World trade = fossil fuels = power for manufacturing
How do countries get rich?
How do countries get rich? n Economic support system n Infrastructure n n n Electricity Clean Water Sewage Transportation Communication Technology
Human Development Index (HDI) n Ranks countries based on their level of economic development (standard of living) n n n More developed Newly Industrialized Less Developed
Measuring Economic Development n Gross Domestic Product (GDP) n n A way to measure how much money everyone makes Total value of goods and services produced in a country in a year divided by the total population
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) CARTOGRAM: always read the title!!!
How do countries get rich? n n n Take care of their people Health Care n Life Expectancy n Infant Mortality Education n Literacy Rate
What does standard of living “look like”? It’s not just about $$$$
Less Developed Nation n n Low GDP Little health care available Lack of education Little industry Lack modern technology Access to communication is limited Poor roads and transportation People grow their own food High birth rate (lots of children) Lower life expectancy
Newly Industrialized Nations n n n n n Growing standard of living People have some possessions Gaining higher levels of education Health care is more available Some airports and roads Communication available Consume more food More types of jobs High birth rate (lots of children) Longer life expectancy
More Developed Nation n n High standard of living People have lots of possessions Higher levels of education Easy access to health care Many types of transportation Many roads Clean water Many types of communication Lower birth rates (fewer children) Long life expectancy
Mapping HDI
Now let’s practice!!
Developed or Developing? Is this country developed or not? What is your evidence that it is a developed country? What is your evidence that it is not a developed country? Think of at least 2 reasons for your choice
More Developed Nation n n ____ standard of living People have lots of _____ Higher levels of ____________ Communication Good ______ Consume more _______ Live ____ Higher _____ EXAMPLES: _________
Less Developed Nation n n n n ___ GDP _____ available Lack of ____ Little ______ Lack modern _____ Access to ______ limited Poor _____ EXAMPLES: ________
Newly Industrialized Nations n n n n n Growing standard of living People have ______ Gaining higher levels of Health care ____ Some _____ and roads Communication available Consume more _______ More types of _______ Growing _______ EXAMPLES: __________
Government & Economy Review Traditional economy: Communist economy: Socialist economy: • Example: Political System(s): 100% Government Power Free Market economy: Example: Political System(s): 0% Government Power
Economic Development Human Development Index (HDI): How we measure economic development ______________________, _______________ Standard of Living ~ How do countries get “rich”? Most important factors: • ______________________________ 1. Gross Domestic Product (GDP) 2. Health Care • Life Expectancy • Infant Mortality ________ creates wealth. 3. Education • Literacy Rate Infrastructure examples: More Developed Country: Newly Industrialized Country: Less Developed Country: _____ standard of living People have lots of ________ Higher levels of __________ Easy access to __________ Many types of transportation Many roads Clean _____________ Many types of __________ Lower birth rate (_________) ______ life expecancy ___________ of living People have __________ Gaining higher levels of _____ Health care __________ Some ________ and roads Communication available Consume more _________ More types of ______ High birth rate (________) _____ life expectancy _____ GDP ____________available Lack of _________ Little __________ Lack modern _______ Access to _________ limited Poor ____________ People grow their own _____ High birthrate (lots of children) Lower ____________ Examples:
Economic Development DEFINE THE TERMS: Gross Domestic Product (GDP) ~ How do countries get rich? 1. Natural Resources: 2. Innovation 3. Infrastructure 4. Take Care of Their People (Human Capital) 1. Tertiary Health Care 1. Infant Mortality 2. Quaternary Life Expectancy Secondary Education 1. Literacy Primary
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