Economic & Political Geography

Economic Geography

​Economic Activity

​The production of goods and services.

​Four Factors of Production

Capital: A country's wealth and infrastructure.

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​Entrepreneurship: The creativity and risk needed to develop new goods and services.

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​Land: All the natural resources used to produce goods and services.

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​Labor: Involves the size and education level of the workforce.

Multiple Choice

The physical efforts of people to produce goods or services.

• Land

• Labor

• Capital

• Entrepreneurship

​Economic Systems

​1. Traditional Economy: Trade goods and services without money.

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​2. Free Enterprise Economy: Privately owned businesses create goods that people buy in markets.

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​3. Command Economy: The government owns most parts of the economy.

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​4. Mixed Economy: Elements of Free Enterprise and Command.

Multiple Choice

Which type of Economic System do we have in the United States?

• Traditional Economy

• Free Enterprise Economy

• Command Economy

• Mixed Economy

​Economic Indicators

​The strength of a country's economy can be measured by:

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​-Gross Domestic Product (GDP)

(Total value of goods and services that a country produces).

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​-Income

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​-Literacy Rate

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​-Life Expectancy

Multiple Choice

What is the GDP?

• Gross, Dirty Pumpkins

• Gross Domestic Product

• Green Dizzy Penguins

• Giant Dollar Purchases

​High GDPs = More Developed Countries, most activity is in the tertiary sector. 

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​Low GDPs = Less Developed Countries, most activity is in the primary or secondary sectors.

Multiple Choice

What sector is probably the main source of Haiti's economic activity?

• Primary

• Secondary

• Tertiary

​Political Geography

​Democracy

​Citizens elect representatives to govern them.

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​Citizens have many rights.

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​3 Branches = Legislative, Executive, and Judicial

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​United States was the first modern democracy.

​Monarchy

​A King, Queen, or Emperor rules.

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​Ruler usually inherits the office.

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​Absolute Monarchy = Citizens have few or no rights.

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​Constitutional Monarchy = King or Queen shares power with an organized government.

​Dictatorship

​One person rises to power and rules society.

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​The Dictator controls all aspects of life.

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​Citizens have few or no rights.

​Oligarchy

​A group of a few people rules society.

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​The ruling group is wealthy or has military power.

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​Citizens have few or no rights.

​Communism

​The government owns all the property.

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​Citizens have few or no rights.

Multiple Choice

What type of government is the United States?

• Monarchy

• Oligarchy

• Democracy

• Dictatorship