GEOG101 Lecture Notes - Lecture 8: Gross Domestic Product, Gross National Income, Purchasing Power Parity
5 Apr 2017
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Document Summary
Week 5b - economic geography: economic geography. Spatial aspects of the 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, economic structure. Gross domestic product (gdp: measures the monetary value of final goods and services - that is, those that are brought by the final user - produced in a country in a given period of time (imf) Gross national income (gni: production income flowing into a country (year) Purchasing power parity (ppp: goods and services a currency can purchase locally. Primary sector: harvest or extraction: agriculture: most important globally. Types of economic systems: small-scale: subsistence: dominant for >30,000 years, key similarities, all goods & services used by producer (farmer/fisher, little trade or "value added, basic agriculture (rainfed, nomadic, low level tools/ technologies.
