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Lecture 12

GEOG101 Lecture Notes - Lecture 12: Newly Industrialized Country, Telecommuting, Gross National Income


Department
Geography and Environmental Management
Course Code
GEOG101
Professor
Nancy Worth
Lecture
12

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GEOG 101 Lecture: Economic Geography
Economic geography
Spatial aspects of economy
o How people earn a living in different areas
o How livelihoods systems vary from place to place
o How economic activities are spatially related
Spatial generalizations
o Interrelationships of economic activity in different places
o Explanations for variations from place to place
Economic structure
Gross domestic product (GDP)
o Measure the monetary value of final goods and services produced in a country in a given
period of time
Gross National Income (GNI)
o Productions income flowing into a country (year)
Purchasing Power Parity (PPP)
o Goods and services a currency can purchase locally
o Another way of thinking about exchange rates and comparing purchasing values around the
world
Primary structure
o Agriculture: most important globally
Fisheries
Forestry
Mining
o Types of economic systems: small scale subsidence
Key similarities
All goods and services used by producer
Little trade or value added
Low level tools/technologies
Isolated from world markets
o Types of economic systems: large scale commercial/capitalist
Subsidence faring is inefficient
Specialization - efficiency
Crop type
Labour
Mechanization
Farm size - larger is better
Large scale efficient transportation networks
Highly responsive to market or government signals (prices, government
directives)
Secondary structure: manufacturing
o Modern manufacturing location highly cost dependent
Labour costs (min wages, training)
Energy costs (depends on location)
Linkage costs (e.g. complementary suppliers)
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