systemslevels of activity traditional concepts economics & the world 100 200 300 400 500...
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Systems Levels of Activity
Traditional Concepts Economics & the World
100 100 100 100 100
200 200 200 200 200
300 300 300 300 300
400 400 400 400 400
500 500 500 500 500
Geography Jeopardy!Economics
Final Jeopardy! Question Economics
Economic descriptors
System governed by “supply and demand”, features include private ownership of businesses
Free market/Capitalism
Systems100
System governed by “greater good”, features include collective labor ownership of businesses
Socialism
Systems 200
System governed by “greater good”, features
include government/small party ownership of businesses
Communism/Command economy
Systems 300
CommunismSystem envisioned by
Karl Marx
Systems 400
Although most countries identify
themselves as capitalist or communist, a more
correct descriptor of all economies
Mixed economy
Systems 500
The level of economic activity represented by information processing and management – i.e.,
technology development, research
Quaternary (4)
Levels of activity100
The level of economic activity represented by
providing services – i.e., supermarket, teacher,
doctor
Tertiary (3)
Levels of activity200
The level of economic activity represented by the production of raw
materials – i.e., agriculture, mining,
fishing
Primary (1)
Levels of activity300
The level of economic activity represented by
making or refining products from raw
materials – i.e., making furniture, turning crude
oil into gasoline
Secondary (2)
Levels of activity400
Name one career at each level of economic
activity
(Answers vary – points awarded at teacher discretion)
Levels of activity500
Swapping goods and services without the use
of money
Barter
Traditional100
Producing just enough to provide food for yourself and your
family
Subsistence agriculture
Traditional300
Small-scale production based in the home
Cottage industry
Traditional200
The levels of economic activity most likely to occur in a developing
nation
Primary and secondary
Traditional400
A term used to describe pre-industrial societies with low standards of
living
Less Developed
Traditional500
OutsourcingThe physical separation of economic activities from
the main production facility, usually for the purpose of employing
cheaper labor
Concepts100
Gross Domestic ProductThe total value of goods
and services created within a country
Concepts200
SpecializationProduction of a limited
scope of products or services in order to gain
greater degrees of productive efficiency
Concepts300
TariffsTaxes imposed on certain
imported goods and services to keep out
foreign competition and allow the growth of domestic economic
sectors
Concepts400
IndustrializationThe development of
manufacturing facilities on an extensive scale – a “revolution” of this sort
transformed economies in Europe and the U.S.
Concepts500
NAFTAAn agreement that
removed tariff and non-tariff barriers to trade
between the U.S., Canada, and Mexico
Economics & the World100
Export-based economyMany countries in Latin
America have this type of economy; its disadvantage
is a dependence on economic strength in other
regions of the world
Economics & the World200
Import-based economyJapan and Hawaii both
have this kind of economy due to their lack of land to produce their own goods
Economics & the World300
European UnionCreated by a number of European countries to
better coordinate economic activities
Economics & the World400
Columbian ExchangeHistorical term used to describe the transfer of
plants, animals, and goods between the “Old World”
and the “New World”
Economics & the World500
Used to measure relative wealth between
nations – ignores the inequalities within
society by pretending it is equally distributed to
all people
GDP Per Capita
Final Jeopardy!