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Vocabulary flashcards for review.
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Subsistence Economics
The earliest form of food economics, where small groups produce and barter for goods and services.
Pleistocene Overkill Hypothesis
The hypothesis that early humans hunted large species to extinction.
Feudalism
A system where agriculture surplus leads to social stratification and control by a Lord/Master.
Fertile Crescent
The Middle East region where barley and wheat were first domesticated.
Vegeculture
Cultivation of root crops.
Population Pressures
Agriculture adoption reason: promoted stability.
Promote Stability
Agriculture adoption reason: demanded lifestyle adjustments.
Arable Lands
Land suitable for agriculture.
Subsistence Agriculture
Agriculture that supports only the farmer and family.
Commercial Agriculture
Agriculture that supports the farmer for cash.
Extensive Subsistence Agriculture
Nomadic herding and shifting cultivation.
Intensive Subsistence Agriculture
High-yield agriculture with concentrated effort, like rice farming.
Carrying Capacity
The number of people per unit area that can be supported.
Great Columbian Exchange
The exchange of goods between the Old and New Worlds, starting in 1492.
Comparative Advantage
An economic model where some areas are better suited for specific crops based on soil, climate, and terrain.
Land Rent
The profit from land use, considering output, price, production costs, transport costs, and distance from market.
Rural Land Use Theory
Theory explaining how rural lands are used based on economic principles, distance, and market location.
Commercial Crop and Livestock Agriculture
Commercial agriculture involving grain crops or livestock.
Intensive Subsistence Crop and Livestock Agriculture
Farmers cultivate small plots of land and grow staples crops, like rice, and rely on manual animal labor.
Green Revolution
Attempt to spread Western Ag to everywhere else.
Imperial Economies
Economic system with an Ag surplus and flow of resources.
Commercial Economy
Economic system focused on selling products for profit.
Industrial Economy
Economic system focused on mass production and distribution.
Capitalism
Free enterprise, economic autonomy, and consumer demand.
Planned Economies
An economic system with Government Control.
Mixed Economies
An economic system with a mixture of free capitalism and government control.
Recession
Decline in economy.
Depression
Severe downturn in economy.
Private sector
Privately owned business.
Public sector
Government owned business.
Gross Domestic Product (GDP)
All goods and services produce in a country
Gross National Product (GNP)
Total goods and services produced by citizens of a country, includes international goods
Gross National Income (GNI)
Similar to GNP except it does not include, taxes, depreciation, and subsidies.
Primary Sector
Raw materials Mining Forestry, Fishing, Hunting Ag (primitive)
Secondary Sector
Adding value to Raw Materials Processing/Manufacturing Construction Production of actual goods
Tertiary Sector
Service based People that fix your stuff Mechanic Clerk Lawyer Teacher Plumber
Quaternary Sector
Intellectual products Info gathering Data Collection and Analysis R and D Expert Consulting