Geo Chapter 5 - Review Flashcards
What are the three mixed economies?
There are three mixed economies: Traditional/Market, Traditional/Command, And Market/Command
In Canada’s Mixed economy, Who influences it?
Everyone in Canada, From governments to consumers has a influence on Canada’s economy.
How does the government tax us, from childhood to adulthood? How do they use this tax money?
We all pay taxes in sorts of ways. As Adults, we pay income taxes and bills, and as Children, we pay taxes (GST & PST) on the goods and services we buy. They use the money they get to improve the overall living condition of Canadians.
What are consumer groups?
Consumer groups represent consumers interest, including producing them from inferior products. One certain consumer group is consumer advocates. These groups work to specifically work to protect consumers from fraud, inferior products, false advertisements, and such.
What are Producer Groups
Producers Groups such as marketing boards work to promote their products and maintain fair prices by controlling supply. They make sure that supply is overproduced or underproduced prices stay stable. They also advertise together to inform consumers on there similar products
What is the Primary Industry?
The primary industry is the gathering industry. This industry harvests raw materials such as wood, that is used in other industries
What is the secondary industry?
The Secondary industry is the production industry. This industry uses raw materials to manufacture and create commercial products
What is the tertiary industry?
The tertiary industry is the support industry. They provide personal, social, and commercial services as well as transportation and public utilities
What is the Quaternary Industry?
The Quaternary industry is the research industry. This industry includes jobs that involve booth research and technology that require a high degree of knowledge
What is the Quinary Industry?
The Quinary Industry is the Control Industry. This industry has jobs that involve being in charge such as being a governor or president
Describe the 4 steps of the manufacturing system…
During the manufacturing process, there is a certain amount of steps that occur. For example making clothing..
Input - A design for a new clothing item is made and the materials needed to create it is bought.
Process - The company begins production of the design and decides how they will produce it. (Ex - Mass production)
Output - The Newly made design is sold to stores and is set out for consumers to buy
Feedback - Designers see if the clothings design is liked and they use this feedback in there next design
What is the multiplier Effect?
The Multiplier effect is the effect of spending in a local economy. The Multiplier Effect is also similar to the riple of a stone falling in a pool. The rock is the outsiders spending money at a tourist attraction. The rock makes ripples, which is the money going from local employees, to business and services, and then back to spending.
What are the three eras of economy we have gone through. Who identified them?
There have been three stages of economy identified by economist Nuala mbeak…
The commodity stage that lasted until 1918. It relied on coal for energy and steel production
The Mass manufacturing stage where many goods were mass produced using cheap materials
The technology age which started in 1981 and is driven by technology.
What is the difference between Technology and high technology?
technology is devices that are used to produce goods and services, while high technology is used to boost production rates of the goods and services already being produced.
What are some examples of high technologies?
There are currently three main high technologies…
Computerized mining which sends robots controlled by humans n surface level which take the place of human and allow us to gather minerals remotely
Precision farming which uses satellite and computer technology to greatly improve our farming such as finding good land to farm on and calculating how much of a crop we harvested
High tech forestry which uses construction like machines which cuts a tree from the bottom, rips off branches, and prepares the trees into logs to harvest.
