APHG Unit 7

Extraction of raw materials and natural resources from earths surface, such as farming, mining, lumbering

• Primary Sector

• Secondary Sector

• Tertiary Sector

• Quaternary Sector

Processing and manufacturing raw materials into a finished product

• Primary Sector

• Secondary Sector

• Tertiary Sector

• Quaternary Sector

Service sector that focuses on moving, selling, and trading products such as retail, marketing, food service

• Primary Sector

• Secondary Sector

• Tertiary Sector

• Quaternary Sector

Knowledge based sector, focusing on research and information creation and transfer

• Secondary Sector

• Quaternary Sector

• Primary Sector

• Quinary Sector

Highest levels of decision making, includes top officials in government and business

• Primary Sector

• Quaternary Sector

• Quinary Sector

• Secondary Sector

MDC

• More Developed Country

• Less Developed Country

LDC

• More developed country

• Less developed country

Total value of goods and services by the citizens and corporations of a country as well as foreign investments in a given year.

• Gross National Product

• Gross Domestic Product

• Gross National Income

• GINI Coefficient

Economic theory that was modeled off of US and Western Europe, does not take into account the influence of colonialism and other factors.

• Wallersteins World Systems Theory

• Brandt Line

• Rostows Stages of Economic Growth

Measures the distribution of income within a population

• Gross Domestic Product

• Gross National Income

• GINI Coefficient

• Gross National Product