Last farming quiz Flashcards
What are the four different categories of economic activitie
Secondary,
primary,
tertiary,
quaternary economic activities.
Why are global trading patterns changing today?
every country and state demands different things they need for resources. They are always constantly changing because products and items could be in higher demand than they usually would be.
What kinds of data indicate a country’s level of development?
Having a high GDP, meaning that your country has lots of production, economic activities, and trade patterns.
Primary economic activity
the kinds of activity that directly rely on natural resources.
Example: the fishing or mining industries.
Subsistence farming-
when people only grow and harvest what they need for their families or villages.
Commercial farming-
countries that have more advanced economies, tend to use commercial farming which is when they sell and make a profit from the crops and food they sell and earn.
Secondary economic activity
when people use raw materials to produce or manufacture new products of greater value, they are engaging in secondary economic activity.
Example: wheat into flour, milling lumber into plywood.
Cottage industry-
they traditionally take place in people’s homes or near their homes, they are known as cottage industries. Usually involves making something by hand
Commercial industry
when hundreds or thousands of people work in large factories located in and near major cities. Most of the products turn out in larger quantities such as clothing, household appliances, and heavy machinery
Tertiary economic activity
service industries are considered to be tertiary economic activities. People engaged in this type of work do not directly gather or process raw materials. They pursue activities that serve others.
Examples: firefighters, lawyers, cops.
Quaternary economic activity
many people work at jobs that focus on the acquisition, processing, and sharing of information.
Examples: education, government, information processing, and research.
Export- goods that get sent outside the country
Import- goods that get sent inside the country