Unit 3 Flashcards

1
Q

What does GDP stand for?

A

Gross Domestic Product

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2
Q

What is the definition of gross domestic product?

A

The total value of goods produced and services provided in a country for one year

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3
Q

What are the four types of industries?

A
  • Primary
  • Secondary
  • Tertiary
  • Quaternary
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4
Q

What is the focus of primary industries?

A

Extraction of raw materials from the environment

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5
Q

Give examples of primary industries.

A
  • Mining
  • Farming
  • Fishing
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6
Q

What do secondary industries focus on?

A

Manufacturing things using the products of primary industries

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7
Q

Provide examples of secondary industries.

A
  • Auto assembly plants
  • Construction
  • Utilities
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8
Q

What do tertiary industries provide?

A

Services to others

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9
Q

Give examples of tertiary industries.

A
  • Doctors
  • Lawyers
  • Salespeople
  • Mechanics
  • Truckers
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10
Q

What is the focus of quaternary industries?

A

Information and knowledge-based services often involving advanced technology

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11
Q

Provide examples of quaternary industries.

A
  • Software developers
  • Researchers
  • Statisticians
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12
Q

What are basic industries?

A

Produce goods or services for export outside the local area

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13
Q

What is an example of a basic industry?

A

Mining, agriculture, large scale manufacturing

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14
Q

What are non-basic industries?

A

Serve the local population meeting daily needs

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15
Q

What is an example of a non-basic industry?

A

Grocery stores, schools, local services

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16
Q

What percentage of Canadians work in tertiary industries?

A

Most Canadians

17
Q

Define sustainability.

A

Meeting the needs of current generations without affecting the needs of future generations

18
Q

What are the three pillars of sustainability?

A
  • Environmental
  • Economic
  • Social/Equity
19
Q

What does the environmental pillar of sustainability focus on?

A

Reduction of greenhouse gas emissions and responsible use of natural resources

20
Q

What does the economic pillar of sustainability focus on?

A

Economic growth and providing decent jobs with equitable pay

21
Q

What does the social/equity pillar of sustainability promote?

A

Energy independence and human rights

22
Q

What is a linear economy?

A

Take-Make-Dispose economy that leads to waste and resource depletion

23
Q

What is a circular economy?

A

An economic model focusing on reuse, recycling, and sustainability

24
Q

Why is a circular economy considered better for sustainability?

A

It reduces environmental impact and promotes better resource management