Economics New Flashcards
What do economic activities do
-create jobs
-produce income
-produces something for sale or consumption
Primary sector
Working with natural resources
Secondary sector
Manufacturing, processing
Tertiary sector
Providing services
Quartenary sector
Working with information and communications
Research and development
Measures of the importance of a sector
% of total workforce they employ
% of total GDP it contributes to
Factors affecting location of primary sectors
-Proximity to natural resources
-land for growing crops, flat land
-availability of workforce
Factors affecting location of secondary sector
-near transport links to reach market
-near natural resources as they are heavy to transport
-availability of land to expand
Factors affecting location of tertiary sector
-near buyers so they can sell products
-transport likes so workers can access the site
Factors affecting quaternary sector
-near university for a skilled workforce
-near transport connections for skilled workforce
-reliable internet to operate their business
Benefits of rural urban fringe
-cheap land
-car parking space
-workers close by
-room for expansion
-attractive environment, little pollution
-good accessibility
Signs of the rural urban fringe
-superstores
-industrial estate
-business park
-science park
Reasons for change of location
-depletion of natural resources
-new technology , such as mechanisation
-globalisation, so countries are dependent on each other and do not have to do all kinds of employment sectors
-government policies, such as UK supporting agriculture
-demographic change, increasing the want for services like food, schools, medicine
Multiplier effect
-people earn more money, more disposable income
-people spend more money
-more demand for goods and services
-tertiary sector grows
-more and better jobs in tertiary sector
-repeats
Informal economy
Work that is not officially recognised by the government
Causes of informal economy
-rural to urban migration, surplus labour
-employers pay workers very poorly as a result, so they look for jobs in the informal economy
Characteristics of informal economy
-work not regulated by government, so low paid and insecure
-not protected by state, self employment
-economy not monitored by the government, not included in GDP
-work is dangerous and undesirable, only poorest parts of society will take it
Malthus
-population growth is faster than increase in food supply
-food will eventually be less than population
-birth rate would lower and death rate raises
Boserup
-increases in population stimulate improvement in food production
Club of Rome
Same as Malthus
-but if policies to regulate growth are introduced
-industrialisation would decrease fertility, and population growth would be reduced too
How to balance population and resources
-family planning for population growth
-reducing resource consumption (efficient use and cutting out waste)
-technologies exploits new recourses
-development is not based on natural resources
Non Renewable energy definition
Once they are used up they cannot be replaced
Renewable energy sources
They can be used again and again
Factors affecting global energy demand
-Economic developmentsL more developed = more energy consuming activities like provision of services and manufacturing
-population growth: more people use energy
-developments in technology means people use more energy
Factors affecting global energy production
-natural resources: more oil found means more used
-big producers in war means they would produce less, as they are focusing on the war
-if demand shifts to renewable, more renewable will be used
Advantages of renewable energy, disadvantages
+no GHGs
+no air pollution (acid rain or CO)
+do not run out, increase energy security
-some are expansive
-not reliable when they are conditions based
-some can only be located in certain places
Pros and cons of non-renewable
+for large resources countries, reliable source of energy, no new infrastructure like renewable energy
+affordable, so people can use them in cars
-CO2 emissions
-releases sulphur dioxide, causing respiratory issues
