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Agriculture
the growing of crops and the tending of livestock, has replaced hunting and gathering as the most significant of the primary activities
Aquaculture
the breeding of fish in freshwater ponds, lakes, and canals or in fenced-off coastal bays and estuaries or page 266enclosures
Demand curve
shows how the market will expand as prices drop and the good becomes more affordable and attractive to more customers
Economic geography
The study of how people earn their living, how
livelihood systems vary by area, and how economic activities are spatially interrelated and linked
Extractive industry
removing nonrenewable metallic and nonmetallic minerals, including the mineral fuels, from the earthās crust
ex: mining and quarrying
Genetically modified seeds
are created by combining the genetic material of different species
Green revolution
Complex of seed and management improvements adapted
to the needs of intensive agriculture and designed to bring larger harvests from a given area of farmland.
ā¢ For Example, genetic improvements
Gathering industries
based on harvesting the natural bounty of renewable resources, though once in serious danger of depletion through overexploitation
ex: fishing and forestry
Informal economy
is composed of activities that are unlicensed, lack formal contracts, and generate unreported earnings
Market equilibrium
is marked by the point of intersection of the supply and demand curves and determines the price of the good and the quantity bought and sold
Maximum sustainable yield
the largest volume or rate of use that will not impair its ability to be renewed or to maintain the same future productivity
Mediterranean agriculture
a specialized farming economy, however, is known for grapes, olives, oranges, figs, vegetables, and similar commodities
Overfishing
catches above reproduction rates
Planned economy
associated with communist-controlled societies, producers or their agents dispose of goods and services through governmental agencies that control both supply and price
Plantation agriculture
specialized crops are influenced by both physical geographic conditions and present or, particularly, former colonial control of areas
Polyculture
production of several different crops, often in the same fieldāis practiced
Primary activity
Harvest or extract something from the earth.
ā¢ Hunting and gathering, grazing, agriculture, fishing, forestry, mining.
ā¢ Agriculture.
ā¢ Gathering Industries.
ā¢ Extractive Industries.
Purchasing power parity (PPP)
takes account of variations in prices between countries
Quaternary sector of the economy
Secondary activity
Add value to materials by changing their form or combining them into more useful and more valuable commodities (form utility).
ā¢ Manufacturing and processing industries, power
generation, construction industry.
ā¢ Manufacturing.
ā¢ Processing.
ā¢ Construction.
ā¢ Power Production.
Shifting cultivation
maintains soil fertility by tested traditional practices in tropical wet and wet-and-dry climates
Subsistence economy
goods and services are created for the use of the producers and their kinship groups
Supply curve
tells us that, as the price of a good increases, more of that good will be made available for sale
Sustainable agriculture
advocates emphasis of local knowledge, local markets, smaller-size operations, and farm diversification
Tertiary activity
Provide services to the primary and secondary
sectors and goods and services to general
community and individuals.
Wholesale and Retail Trade.
Transportation and Communication
Services.
Business Services.
ā¢ Finance, Insurance, Real Estate.
ā¢ Accounting, Advertising, Architecture,
Engineering, Legal Services.
Consumer Services.
ā¢ Eating and Drinking Establishments.
Personal Services, Tourism.
Education, Fire Protection, Health Care,
Nonprofit Organizations, Police.
Tragedy of the commons
the economic reality that, when a resource is available to all, each user, in the absence of collective controls, thinks he or she is best served by exploiting the resource to the maximum, even though this means its eventual depletion
Transhumance
a special form of seasonal movement of livestock to exploit specific locally varying pasture conditions
Transition economies
free market structures or are only partially retained in the lesser degree of economic control associated with governmental supervision or ownership of selected sectors of increasingly market-oriented economies
Von ThĆ¼nen rings
One of earliest models developed to analyze human activity
patterns.
Developed in early 19th Century.
ā¢ When transportation systems were less efficient.
ā¢ Before governmental influences were the norm.