INDUSTRIAL AND
ECONOMIC
GEOGRAPHY
More Developed Countries
High standard of living (income,
education, food, clothing, shelter)
 Mostly Middle and Upper Class
 Economically mixed with Industry,
Agriculture, but a growing Services sector
 Examples

 United
States, Western Europe
Developed Countries

Moderate standard of living
Small Upper class, growing Middle Class
and significant Lower Class
 Economically mixed with heavy Industry
and Agriculture with some Services
 Examples

 China
 Mexico
Less Developed Countries
Low standard of living
 Small Upper and Middle Class, Large
Lower Class
 Small Industry and Services, Large
dependence on Agriculture
 Examples

 Afghanistan
 Nigeria
 Somalia
Economic Sectors

Primary
 Turning
natural resources into raw materials.
Removing materials from the Earth.
 Lumberjack,

Coal miner, Farmer
Secondary
 Turning
raw materials into finished goods. Taking
the materials from the Earth and making something
out of it to be consumed
 Car
manufacturer, Textile Mill, Doritos Factory
Economic Sectors

Tertiary
Providing
services to people. Doing
something for someone that they can do for
themselves
McDonalds,

Car dealership, Babysitting
Quaternary
Exchanging
information. The movement of
ideas from one person(s) to another
Lawyer
(?), Google, Teacher (?)
Exit Slip

On a piece of paper, write down the following
information
1.
2.
3.
What do you want to do when you
grow up? (realistically)
What is your dream job? (list even if
the same as above)
What are your parents/guardians
jobs? (list both)
Job 1
Primary
Secondary
Tertiary
Quaternary
Job 2
Job 3
Job 4
Job 5
Job 1
Job 2
Job 3
Primary
Job 5
Logger
Foxconn
Factory
Secondary
McDonalds
Store
Tertiary
Quaternary
Job 4
Lawyer
Google
Workin hard for the money …

Realistic Job
P

Dream Job
P

– 0%, S – 7%, T/Q – 93%
Parents/Guardians
P

– 0%, S – 12%, T/Q – 88%
– 0%, S – 19%, T/Q – 81%
US Average
P
– 7%, S – 13%, T/Q – 80%
What’s in a nation’s economy?

GDP – Gross Domestic Product


GDP (per capita)


Number of potential workers available
Unemployed


Average citizen wealth indicator based on an even distribution of
wealth
Labor Force


Annual amount of money generated by the economy
Number of workers not employed but are counted in the labor force
Underemployed

Employed workers who are active in a job where their skills are not
being utilized properly
Country
GDP
Agri.
Indus.
Serv.
World
74,699,258
1
United States
17,416,253
1.12%
19.1%
79.7%
2
China
10,361,092
9.1%
42.6%
48.3%
3
Japan
4,769,804
1.2%
27.5%
71.4%
4
Germany
3,820,464
0.8%
28.1%
71.1%
5
France
2,902,330
1.9%
18.3%
79.8%
6
United Kingdom
2,847,604
0.7%
21%
78.3%
7
Brazil
2,244,131
5.4%
27.4%
67.2%
8
Russia
2,129,276
2%
24.2%
73.8%
9
Italy
2,057,301
3.9%
36%
60%
10 India
2,047,811
17.4%
25.8%
56.9%
Capitalism – “You get what you put in”
Limited or non-existent government involvement where
markets regulate themselves – free market
 Basics
 Industry regulates itself to promote competition
between companies to create a balance in the
economy so the consumer gets the best product for
the best price – little to no government involvement
 Modern Example
 United States (to an extent), China (to an extent)

Communism – “Equality is the law”
Government controls all sectors of the
economy to ensure even distribution of wealth
 Basics

 Government
required equality to make sure
everyone has an even distribution of wealth. No
individuals have more than anyone else

Modern Example
 North
Korea
Socialism – “Lets find a middle ground”


Moderate government control of the market to
regulate the distribution of wealth
Basics


High taxes prevent super wealthy and pay for
social programs to prevent poverty. Heavy
government involvement in all aspects of life to
make sure there is a balance in opportunities and
wealth
Modern Example
 Great
Britain, France, Canada
Economic FRQs
1.
2.
3.
Write a brief argument which defends the
fact that Tertiary and Quaternary sectors of
the economy are the highest paying jobs in
the US economy.
Write a brief argument where you argue that
the primary and secondary sectors should be
paid the highest wages.
Pick one of the “isms” and defend it as the
superior concept compared to the others
Wallerstine’s World-System’s Theory


Assumes that all nations are a part of a world economic
system void of independent economies and based on
capitalism
Create a world-economy of control and dependency
 Core: High wealth, political and economic control
 Semi-Periphery: economically strong and growing,
influence over the periphery but follows the core
 Periphery: Dependent and responsive economically and
politically to core and, to an extent, semi-periphery
nations
Economic Types

Formal Economy


Informal Economy


Non-regulated or taxed economy (barter system, black market, personal garden
you give to friends)
Outsourcing


A legal economy established within a nation that governments regulate and tax
Contracting a portion of a business to a foreign nation (DVD disks made in
Mexico)
Global Sourcing

Shopping all aspects of production and care around the world




Microsoft Programmers – United States
Game Disk – Mexico
Xbox One – China
Call Center – India
Global Economy Reading Assignment

Read chapter 32 (pg. 455-465)
 Answer
the Essential Question on pg. 455
 Copy down the “Geoterms” on pg. 457

Answer the additional questions below using the
reading
 Create
a list showing where the materials for the shoe
come from and what materials they provide
 Explain why the sneakers are no longer made in the
United States
 Make an argument: Is globalization a good thing or a
bad thing?