GEOG 5 Lecture Notes - Lecture 12: Transgene, Primary Sector Of The Economy, Geographic Data And Information
Document Summary
Study of production, distribution, and consumption of commodities. Study of the location, distribution, and spatial organization of economic activities. Ex: agriculture you use to feed your family. Government control or influence over what will happen in a market. Very few pure market or pure subsistence examples. Poverty is living on less than or less a day. Extreme poverty is living on or less a day. Not including china the level of poverty is going doing, but not as steeply as if you were to exclude it. Much of china still lives in extreme poverty. Demonstrated the quantities that can be sold at a certain price. Producer is supplying more bc they want more revenue. The higher the price of the good the less people demand it. How much of a quantity a buyer is willing to have. Price is a reflection between supply and demand. Market has to react quickly to supply and demand.
