GGR111H5 Study Guide - Final Guide: Human Geography, The Wheel Of Time, Mass Production
Document Summary
Economic geographers ask how _economic patterns_____________ across space are configured and why certain economic activities take place where they do. An economy is a system governed by institutions, laws, rules and norms that organizes land, labour, capital, distribution and consumption to meet the wants and needs of consumers for products and services. Economics is concerned with: what is produced, how it is produced, who gets what is produced (product allocation) The economy is made up of two parts: _producers_______: people who harvest and manufacture products or provide services. An economic system arranges and organizes material provisioning based on these two components: production and consumption. Something useful that enters the market in the form of goods and services and is available for purchase to consumers. Commodity chains: commodity chains link the progression commodity from its design, the procurement of raw materials, production, export to point of sale, distribution for sale, marketing and advertising. of a.