UNIT 3 Economic Geography What is economic geography

UNIT 3 Economic Geography What is economic geography?

Natural Resources • Renewable resources will replace themselves over time. –Examples would be soil, water, and forests

Natural Resources • Nonrenewable resources are resources that will not replace themselves. Once they are used, they are gone. –Examples--fossil fuels (oil, coal, natural gas), and metals (gold, iron, copper, and bauxite)

Human Resources • Human resources are man and his mind • Human resources depend on level of education, whether it is skilled or unskilled labor, and mans ability to create more and manage his businesses.

Capital Resources • Capital resources are resources that can be used to make more, like money or tools • key features of capital resources are the availability of money for lending, the level of infrastructure( water and electricity and roads), the availability and use of tools, machines, and technologies.

Three levels of economic activity • Primary Activities-dealing directly with natural resources (ex. --fishing, farming, mining, and forestry) • Secondary Activities--are manufacturing and processing of natural resources (ex. --steel mills, automobile assembly, sawmills

Three levels of economic activity • Tertiary Activities--are service industries (ex. --transportation, retail trade, informational technology services)