Industrialization
This natural resource powered many steam engines and factories during the Industrial Revolution.
What is coal?
This is the action of buying and selling goods and services.
What is trade?
This term describes a country with a mature, sophisticated economy and advanced infrastructure and technology(Describe in terms of development).
What is a developed?
In this type of economy, individuals and businesses are generally free to decide what to produce and purchase.
What is market economy?
A company is involved in managing a large organization, making executive decisions, and providing high-level leadership. This activity would most likely be classified as this economic sector.
What is quinary?
During the Industrial Revolution, many people moved from rural areas to these places in search of factory jobs.
What are cities (urban areas)?
Compare importing and exporting.
What is importing means buying goods from another country, while exporting means selling goods to another country?
This term describes a country that is working to improve economically and socially and may still rely heavily on agriculture (Describe in terms of development).
What is a developing?
In this type of economy, the government makes major decisions about what will be produced, how it will be produced, and who receives the products.
What is a command economy?
This level of economic activity involves extracting raw materials from the environment, such as farming, fishing, logging, and mining. This resembles activity in what sector?
What is the primary sector?
The Industrial Revolution began in this country.
What is Great Britain?
The United States buys $800 billion in goods from other countries but sells only $600 billion. Identify the trade situation.
What is a trade deficit?
This measurement looks at factors such as income, education, and life expectancy in order to compare them and scores on a scale of 0-1.
What is the Human Development Index?
Reindeer herders continue using traditional methods of producing goods that have been passed down for generations. This is an example of this type of economy.
What is a traditional economy?
Doctors, barbers, dentists, waiters, and lawn-care workers all provide this type of economic activity. This resembles activity in what sector?
What is the tertiary sector?
During the Industrial Revolution, many people moved from rural areas to cities primarily because of the availability of these kinds of jobs.
What are factory/manufacturing jobs?
Germany sells $500 billion in goods to other countries and imports $400 billion. Identify the trade situation.
What is a trade surplus?
A country has high levels of education, long life expectancy, advanced infrastructure, and a strong economy. It would most likely be classified as what type of country (Core/Semi-periphery/Periphery)?
What is a core country?
A country allows businesses to compete and make many economic decisions, but the government also regulates, monitors, and taxes businesses. This economy is best described as this.
What is a mixed economy?
A research scientist developing new computer software would most likely work in this level of economic activity. This resembles activity in what sector?
What is the quaternary sector?
Explain one positive and one negative effect of industrialization on cities.
What is industrialization created jobs and economic growth, but also led to overcrowding and pollution?
Explain the difference between a trade deficit and a trade surplus
What is a trade deficit occurs when imports are greater than exports, while a trade surplus occurs when exports are greater than imports?
A country has an economy heavily dependent on agriculture and the extraction of raw materials, has lower levels of development, and has limited economic power in the global economy. This country would most likely be classified as what (Core/Semi-periphery/Periphery)?
What is a periphery country?
Name and provide an example of a country for each type of economic system.
What is a traditional economy (remember the video- no countries have this type of economy!), command economy(North Korea), market economy (Australia, Japan, or Great Britain), mixed economy (United States)?
A factory turns cotton into shirts. This is an example of this level of economic activity. This resembles activity in what sector?
What is the secondary sector?