Economic Geography

Types of Economic Systems:

The individual makes all decisions and there is no role for government in the economy

• Traditional

• Command

• Market

• Mixed

Types of Economic Systems:

The government controls all means of production.

• Traditional

• Command

• Market

• Mixed

Types of Economic Systems:

Groups making decisions based on traditions and customs that have been handed down.

• Traditional

• Command

• Market

• Mixed

Types of Economic Systems:

Involves the individual making decisions, but the government has a roles, often in the form of business regulations or overseeing entire industries.

• Traditional

• Command

• Market

• Mixed

Which TWO (2) of the following were big changed brought about by the Industrial Revolution?

• Goods were produced more sustainably

• Goods could be manufactured quicker

• Cars shifted from running on fossil fuels to electricity

• Literacy was no longer a priority in the hiring process

• It was now cheaper to produce consumer goods

Which of the following resulted in the Industrial Revolution's rapid expansion?

• Coal became more important to the functions of factories

• Imperialism led to rich countries losing substantial money

• A mass exodus of workers from the agricultural industry

• Rapid decline of the middle class.

Which of the following resulted in the Industrial Revolution's rapid expansion?

• Expansion of the middle class.

• Asian countries expanded at a quicker rate than European countries had in the previous century.

• Put an end to cottage industries as the dominant world economic activity.

• Imperialism led to poor countries becoming richer

Which of the following resulted in the Industrial Revolution's rapid expansion?

• Cities began to shrink as factories drew the populous into rural areas.

• Bursts of public hysteria over public health and sanitization.

• Suburbs began to spring up slowly.

• An uptick in the minimum wage to encourage new members of the workplace.

Which TWO (2) are reasons why businesses offshore operations to semiperiphery countries?

• Cheap foreign labor.

• Easy way to boost economies of neighboring countries.

• Easy to avoid environmental regulations

• Stealthy colonialism

• To maximize number of emplotees

The result of deindustrialization in which clusters of factories sit unused

• Periphery Zone

• Industrial Core

• Suburb

• Rust Belt