GEOG101 Lecture Notes - Lecture 12: Newly Industrialized Country, Telecommuting, Gross National Income
28 Feb 2017
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Document Summary
Spatial aspects of economy: how people earn a living in different areas, how livelihoods systems vary from place to place, how economic activities are spatially related. Interrelationships of economic activity in different places: explanations for variations from place to place. Gross domestic product (gdp: measure the monetary value of final goods and services produced in a country in a given period of time. Gross national income (gni: productions income flowing into a country (year) Purchasing power parity (ppp: goods and services a currency can purchase locally, another way of thinking about exchange rates and comparing purchasing values around the world. Primary structure: agriculture: most important globally. Mining: types of economic systems: small scale subsidence. All goods and services used by producer. Isolated from world markets: types of economic systems: large scale commercial/capitalist. Highly responsive to market or government signals (prices, government. Secondary structure: manufacturing: modern manufacturing location highly cost dependent. To markets taxes: direct factors of production.
