Bellringer BACKPACKS AND IDS
We will have a series of political cartoons to introduce you to various economic systems On the back of your note packet, number 1-9 and answer the questions at the top of the cartoons BACKPACKS AND IDS 1. Who caused the conflict? 1.What can you infer about socialism?
2. Do you feel socialism is a good or bad thing?Explain 3. What can you infer about capitalism?
4. Do you feel capitalism is a good or bad thing?Explain 5. What differences do you see between capitalism and communism. 6
5. What differences do you see between capitalism and communism? 6.In your opinion, which one seems to be a better system? 7.According to the cartoon, do you agree or disagree that capitalism is not working? Explain 9. Who caused the conflict? Economic Geography Economic Indicators and Systems
llhammon Fall 2010 What is an Economy? The way a nation makes choices about how it will use its resources to produce and distribute goods and services Economic Indicators, what are they?
Economic Geography Economic Indicators, what are they? Theytell how well an economy is performing. What is GDP? It is the total value of all goods and services produced by a nation in a year. (GDP = gross domestic product.) What is GDP per capita? It reflects the value of goods and services produced in a year in a country by an average person. What are some other economic indicators? Average number of automobiles, Telephones, Televisions, Or computers per person llhammon Fall 2010 GDP Gross Domestic Product (total value of goods and services produced divided by the total population) Economic Systems 4 Types
Socialist - Syria Communist China Free Enterprise United States Traditional Java, Indonesia Four Types of Economic Systems
Traditional Free Enterprise Communist Socialist Traditional Economies
Village in Bhutan South Asia Traditional Economies Bushmen of Kalahari - Africa Berbers of Algeria Economic Decisions:Made by customs and traditions.
Production:Based on customs and time-honored methods.New ideas are discouraged Private Property:None (things are owned by the family or village) Trade:Very little outside trade because they only make enough to meet their needs. 2 Main Production Methods For Traditional Economies
Subsistence agriculture growing only enough to feed the farmer and his family. Cottage industries weave cloth, make furniture and clothes by hand at home. These are mostly found in rural, non-industrial areas What are these examples of?
Economic Geography What are these examples of? India, Peru, Kenya, Timor llhammon Fall 2010 What are these an example of?
Economic Geography Loom weaver India; Jewelry and textiles Ghana; Pottery Mexico; Making saris - India llhammon Fall 2010 At the bottom of the page, write one positive and one negative of a traditional economy Free Enterprise = Capitalism = Free Market System
Economic Decisions:Based on supply and demand Supply how many there are Demand how much consumers will pay Production:New ideas are encouraged Ownership:People own their own goods and property with limited government interference People invest their money in different ways (factories, machines, and land) Profit??? Competition Answer the questions in your packet over competition Two Main Production Methods
Commercial Agriculture - Large scale farming to sell; modern and requires less labor Commercial industries goods are manufactured in factories for sale throughout the country or overseas Commercial Agriculture
Economic Geography Commercial Agriculture Nebraska, Missouri, India, California llhammon Fall 2010 Commercial Industries In your packet, explain how commercial industries are different than cottage industries In your packet, give two examples of a commercial industry In your packet, explain how commercial farming is different than subsistence agriculture At the side of the section, write one positive and one negative of a capitalist / free - market economy Karl Marx (born in Germany) Communism (Command Economy)
Economic Decisions:Government makes ALL decisions Ownership:No private property. Government owns everything Cooperation:Cooperation replaces competition Goal:Classless society equality among workers At the bottom of the page, write one positive and one negative of a communist economy Socialism (Mixed Economy) Economic Decisions:
Government makes decisions about production, distribution, and use of resources Other decisions are made privately Ownership:Government owns major business Private ownership of everything else Goal: End poverty by a fairer distribution of income among society.Peoples basic needs (health care, transportation, education, housing) are met for free or at very low cost. At the bottom of the page, write one positive and one negative of a socialist economy Economic Systems Market Economy Command Economy Capitalism Communism
On the far right Command Economy Communism On the far left Socialism Left of center but right of communism Economic Activities Economic Activities #1 Primary Economic Activities: economic activities which rely directly on natural resources. Mining, forestry, farming In the U.S. only 3% of the labor force.
Forestry Skorpion Zinc Mine, Namibia Myanmar agriculture rice field In the U.S. only 3% of the labor force. What 2 types of agriculture would be considered primary economic activities? Economic Activities #2Secondary Economic Activities: using raw materials to produce products of greater value. Rims, car factory, manufacturing plywood Food processing Manufacturing Toy manufacturing in China Car manufacturing in India
England Furniture Manufacturing Plant, USA Refining Gold Refining Petroleum Refining What 2 types of industries would be considered secondary economic activities? Economic Activities #3Tertiary Economic Activities: economic activities which do not use raw materials, but serve others. Waiters, doctors, lawyers, customer service In the U.S. 80% of labor force
Economic Geography Service Industry In the U.S. 80% of labor force Teachers, truck drivers, retailers, accountants, doctors and nurses, Gnaoua Musician, Morocco llhammon Fall 2010 What are 3 types of tertiary economic activities? Economic Activities #4Quaternary Economic Activities: economic activities which focus on information. Research, government, education What are 2 types of quaternary economic activities? Global Trade (Globalization)
Exports: goods that are sent out of a country Imports: goods that are brought into a country Impacted by technology
Trade Routes Impacted by technology Industrial Development Industrialized Countries Development Indicators
GDP/GNP Women employment Political Stability Average Income Crime Levels % of Higher Education graduates EconomicActivity Age Range of Pop Development Indicators Standard of Water pipes Water Access Calories per person per day Electricity consumption Ratio of doctors per person Health Care # of computers per person Telephone Communication Death/Birth Ratio Life expectancy # of TVs per person