ECONOMIES

ECONOMY

• Social Science
• Production and distribution
• Of goods & services

ECONOMIC ACTIVITES

• Primary
• Secondary
• Tertiary
• Quarternary

ECONOMIC ACTIVITIES

• Primary: extract natural resources
• No processes
• No manufacturing
• Farmer

ECONOMIC ACTIVITES

• Secondary:
• Processing raw materials
• Manufacturing raw materials
• Logging

ECONOMIC ACTIVITIES

• Tertiary:
• Providing a service
• Doctors

ECONOMIC ACTIVITIES

• Quaternary:
• Researching, collecting,
• Recording, exchange of information
• Services for producers
• Scientists

ECONOMIC SYSTEMS

• Traditional
• Free enterprise
• Command
• Mixed

ECONOMIC SYSTEM

• Traditional:
• Based on hunting and gathering
• Substance farming: growing enough to
• Feed your family
• Africa

ECONOMIC SYSTEM

• Free enterprise
• Private ownership of business
• Individuals decided what to buy or sell
• USA

ECONOMIC SYSTEM

• Command:
• Government control of business
• Little or no private ownership
• North Korea

ECONOMIC SYSTEM

• Mixed:
• Mixed between free enterprise and command
• Some private ownership
• Some government control
• Australia

ECONOMIC SPECTRUM

GOVERNMENTS

GOVERNEMENTS

• Democracy
• Dictatorship
• Monarchy
• Republic
• Theocracy & Totalitarian

GOVERNMENTS

• Democracy:
• Eligible citizens participate in government
• Right to vote representatives
• U.S.

GOVERNMENTS

• Dictatorship:
• Authorial government
• Ruled by an individual
• Military take over
• Cuba

GOVERNMENTS

• Monarchy: England
• Ruled by one
• King and queen
• Most common government in ancient times
• No longer exists (constitutional monarchy)

GOVERNMENTS

• Republic:
• Affairs of state are public matter
• Vote representatives
• France

GOVERNMENTS

• Theocracy:
• God is the head of state
• Ruled by God or gods
• Egypt

GOVERNMENTS

• Totalitarian:
• Authoritarian government
• One person in total control
• Germany