GEOG 1HB3 Lecture Notes - Lecture 18: Economic System, Subsistence Economy, Eurocentrism
Document Summary
Sectors of the economy; primary (resource extraction/ fishing/ forestry/mining, etc. ), secondary (processing of resources/ manufacturing) and tertiary (sales and exchange of goods and services/ service sector), quaternary (processing knowledge and information for decision-making purposes) *depicts the evolution of an economy or a society from pre-industrial eras. *general employment trends: decrease in primary sector, increase, then decrease in secondary sector, increase in tertiary and quaternary sectors. Rostow"s theory and development - modernization theory (pg. Developing countries undergo a similar process of modernization (similar to developed countries in 19th century). Underdevelopment is tied to attaching to traditional values and absence of modern technology. The solution- import these factors from the developed world to generate momentum required to reach take-off stage. criticisms; eurocentric, ignores structure of world economy, growth fails to alleviate poverty. Region: an area of the earth"s surface characterized by distinct uniformity and which differs from surrounding areas.
