Types of Economics
This type of activity involves the direct use of natural resources.
Primary activity
This activity involves catching fish and other seafood from the sea.
fishing
Economic activities provide this for people.
jobs/employment
Catching too many fish leads to this problem
overfishing
Why fishing is considered a primary activity.
What is because it involves extracting natural resources
This activity involves manufacturing and processing raw materials.
secondary activity
This Caribbean country is well known for bauxite mining.
Jamaica
Money earned from exports is called this.
foreign exchange
Storms that damage fishing boats in the Caribbean.
hurricanes
One reason coastal areas are ideal for fishing.
location of breeding grounds, easy access to marine resources
This type of activity provides services such as tourism and transportation.
tertiary activity
This natural feature off Belize’s coast supports marine life and fishing
Belize Barrier Reef
Fishing supports this group of people living near the sea.
coastal communities
Damage to this natural feature affects marine life.
coral reefs
Why is the use of non-renewable resources discouraged compared to renewable resources, which are encouraged?
Non-renewable resources contribute to greenhouse gases and result in global warming
Fishing, mining, and farming all belong to this category.
primary activities
This Caribbean country is known for fishing lobster and shrimp.
Belize
Primary industries provide these materials for factories.
raw materials
When fish populations decrease due to overuse, it is called this.
resource depletion
Differentiate between the greenhouse effect and global warming
The greenhouse effect is a natural effect that keeps the temperature of the Earth's atmosphere suitable for living, whereas global warming is the enhancement of the atmosphere's temperature that results in climate change
Hotels, banks, and restaurants are examples of this sector.
What is the tertiary sector
Factors that influence the location of economic activities
- Availability and location of raw material
- Transportation
- Market
- Government Role
- Etc
Governments earn this from economic activities to fund services.
revenue
This occurs when countries struggle to compete in global markets.
competition
Why is protecting natural resources important for the economy?
The economy fuels development, and natural resources are what fuel the economy.