GEOG 109 Lecture Notes - Lecture 14: Secondary Sector Of The Economy, Primary Sector Of The Economy, Informal Sector
9 Dec 2014
School
Department
Course
Professor
Document Summary
75 questions multiple choice, short answer, fill in the blank. Open notes from notebook print out notes from computer. Less than 10 questions will be cumulative maybe 5-10 will be from first half of class. Final exam is focused on everything from october 21st lecture (race and ethnicity) and onward. Division of labor the specialization of different people or regions in different economic activities. Comparative advantage principle in which some regions specialize in certain economic activities because the region either has the greatest productive advantage, or it had the least disadvantage. Primary sector economic activities involved directly with natural resources. Secondary sector- economic activities involved with processing, fabricating, manufacturing or packaging of finished goods from raw materials. Tertiary sector economic activities involved with the sale and trade of good and services. Quaternary sector- economic activities involved with the handling and processing of information and knowledge. Formal sector- a part of an economy that is taxed and regulated.
