Vocabulary
Materials in the natural environment that people value and use to satisfy their needs.
Natural Resource
What are the two categories of energy resources based on their availability?
Renewable & Nonrenewable
What sector of economic activity would farming fall under?
Primary
When other countries trade imports and exports with one another to help satisfy needs for resources it is known as?
Global Trade
Give an example of a renewable energy resource.
Solar, wind, hydro
nonrenewable resources such as coal, oil, and natural gas, which formed from the remains of ancient plants and animals.
This type of renewable energy source can be utilized near lakes, rivers, and other large bodies of water.
Hydroelectric energy
Give an example of a service industry.
Anything in which a service is being provided would qualify
This indicator of development is related to a countries level of education.
Literacy Rate
This sector of economic activity is associated with manufacturing.
Secondary
people using raw materials to produce or manufacture new products of greater value.
Secondary Economic Activity
What is the main impetus for transitioning to renewable energy resources?
Their much more environmentally friendly/not in danger of running out.
List the 4 sectors of economic activity.
Primary, Secondary, Tertiary, Quaternary
What does GDP stand for and what does it represent.
Gross Domestic Product and the value of a countries exports.
Access to the internet is associated with what level of economic development?
Access to technology
Define Import
Goods that are brought into a country.
What is the most common use of nonrenewable energy?
Transportation/fueling vehicles
What is the main purpose of quaternary economic activities?
Research and Development
List the 3 ways in which Global trade patterns are changed.
tech advancements, consumer demand, political influence.
List the 4 indicators of Economic Development.
economic activity that focuses on the acquisition, processing, and sharing of information, such as education or research.
Quaternary Economic Activity
What are 3 reasons why renewable energy resources are less prevalent today?
cost, availability, and technology levels used to harness the energy aren't as efficient.
Explain how the automotive industry, for example, can touch all 4 sectors of economic activity.
Primary - mining for metals
Secondary - Production of the vehicle
Tertiary - Transportation of vehicle from factory to car lot, salesman
Quaternary - Research and development that goes into the tech advancements in the vehicle.
Explain how all 4 indicators of development are interrelated.
Because GDP relates to the economic state of a country and directly effects the availability of education ,quality of healthcare, food, water, and technology.
What is economic interdependence and why is it important?
Because resources are not allocated equally across the globe so countries rely on each other to fulfill all needs their citizens may have.