Economic Systems
Economic Sectors
GDP and Standard of Living
HDI and GII
Demographic Transition Model
100

In this economic system the government controls the factors of production.

Command Economy

100

Farming, fishing, and mining belong to this economic sector.

Primary Sector

100

This measures the value of goods and services produced within a country in one year

Gross Domestic Product ( GDP)
100

This index measures overall human development.

Human Development Index ( HDI )

100

Improved medicine and sanitation usually cause this rate to decline first.

Death Rate

200


This system combines private ownership with some government regulation.


Mixed Economy

200

Manufacturing automobiles takes place in this economic sector.

Secondary Sector

200


Products ready to be purchased and used by consumers are called these.


Finished Good

200

This index measures inequality between males and females.

Gender Inequality Index (HDI)

200

Stage 2 is usually characterized by rapid increases in this.

Population Growth

300

Customs, and traditions often shape economic decisions in this system.

Traditional Economy

300


Extracting iron ore that will later be used to make automobiles occurs in this sector.


Primary Sector

300

Steel purchased by an automobile factory is this type of good.

Intermediate Good

300


GDP, education, and this measure of how long people generally live help determine HDI.


Life Expectancy

300


A country with low birth rates, low death rates, and a stable population is likely in this stage of the DTM


Stage 4

400

This economic system generally gives individuals the least economic freedom.

Command Economy

400

Doctors, lawyers, and retail workers are generally in this sector.

Tertiary Sector

400

Roads, electricity, water systems, and communication networks are examples of this

Infrastructure

400

Female health, empowerment, and ___________ are measured by the Gender Inequality Index

Labor Participation

400

Better access to this often lowers infant mortality and death rates

Healthcare

500


Private property exists, but government also provides services and regulates some industries.


Mixed Economy

500

Turning raw cotton into finished clothing is part of this sector.

Secondary Sector

500


Housing, healthcare, education, and access to goods help determine this.


Standard of Living

500

Female representation in government is part of this GII category.

Empowerment

500


High GDP, low GII, and low birth and death rates would most strongly suggest this DTM stage.


Stage 4