Economic Activity Flashcards
What is secondary
Industries that process and manufacture products from raw materials
What is primary
The
Primary sector extract materials directly from the earth or sea.
What is tertiary
Industries that provide a service
What is quaternary?
The industry based on human knowledge which involves technology, information, financial planning, research, and development.
Three example of primary
Farmers,Fisherman,oil rig workers
Three example secondary
Butcher, carpenter , Machinist, factory workers, Civil engineer,
Three example of tertiary
Actor,Movie star, teacher,football,shop assistant ,emergency services ,nurse
Three example of quaternary
computing, consultancy, project management, education and research and development.
What is the Industrial Revolution
The Industrial Revolution was a period of major changes in the way products are made
Agriculture
Farming -the growing of crops and rearing of animals
Mechanisation
The introduction of machines (this often means less people are needed to do a job than before)
Colony
A country ruled by another (e.g. Nigeria was once a British colony )
Manufacturing
The making of things on a big scale, using machinery (in a factory)
Offshoring
When a company moves some of its work overseas (Usually its factories)
Disposable income
When someone has extra money to spend as they wish (after they have paid for essentials)
Services
Supplying a public need- such as transport,water,education,healthcare
Telecommutins
Working from home (or anywhere) as you are connected by internet
What is rebranding and regeneration?
Rebranding is when a place is re-developed to gain a new identity.
Regeneration is a long-term redevelopment with improvement to physical and economic environment
What is the term for an economy where waste minimised and products are reused?
Circular economy
What does the Clark fisher model show?? (Its purpose)
The Clark Fisher model shows how a country changes its focus
What are the three phases of the Clark fisher model??
1.The
pre-industrial, 2.The industrial phase, 3.The
post-industrial
What is the spiral of decline?? And what effect does it have on the economy and environment of a city?
1)The spiral of decline describes when unemployment leads to de-population (people start to move out of an area) because of a lack of jobs. 2) This leaves buildings and houses derelict. With a lack of jobs
2 examples of regeneration and rebranding strategies?
Regeneration- construction of infrastructure, development of new housing, refurbishing the existing buildings, encouraging investment or any other activity that would improve an area.
Rebranding- It is a market strategy of giving a new name, symbol, or change in design for an already-established brand
What is primary product dependency?
an economic situation in which a country heavily relies on the export of primary products or commodities, such as agricultural goods, minerals, or raw materials
Can you explain how being primary product dependent causes countries to be poor?
These cause issues for a number of reasons. Natural disasters can wipe out production of the primary product and so means that farmers are left with no income. They are often non-renewable, which means the country will suffer when they run out of the product.
Can you explain reasons for the growth of the Green Economy?
creating new markets and job opportunities in renewable energy (for example Power Plant Operator
Solar Panel Installer Wind farm site, Solar project developer.) sustainable agriculture, and green technology sectors
Can you evaluate the impact of our consumption on people and the environment? (I don’t understand this question myself guys)
Overconsumption worsens climate breakdown and increases air pollution
what is the positive multiplier effect
the effect on national income (and product of an exogenous income increase in demand)
