1	Geography Module G - 5 Industry-Trade-Economy
2	Industry The activity that produces goods or provides services Specific Industry - companies or groups engaged in the same business ie. Mining, Manufacturing, packaging or banking
3	Three broad groups Primary - industries that gather or extract natural resources Farming Logging Mining
4	Groups cont. Secondary - change raw materials into finished goods Packaging resources to prepare for use or manufacturing Processing Treating
5	Tertiary Provide services rather than goods Transportation Communications Tourism
6	Industry Industry requires 5 basic inputs for production Natural Resources - raw materials used to produce goods Minerals Timber Land & Water
7	Basic Inputs cont. Capitol - the company’s assets used in the production of goods Buildings, equipment, machines, trucks Money needed to start or expand business
8	Basic inputs cont. Labor - Human activity that provides goods and services Workers for wages Management - Supervising and coordinating business activity
9	Basic inputs cont. Technology - includes all ways people use tools, machines, materials and techniques
10	Trade Buying and selling goods and services Primary goal - to give consumers the best goods and services at the best prices
11	Trade cont. Money - medium of exchange various metals, paper, checks, credit card Without money trade would have to be direct exchange
12	Market Places Open air market - face to face trading Retailers - large stores with a collection of goods that are made in many foreign countries mail order - catalogs - internet
13	Markets cont. Commodity exchanges - sold by auction - wheat, livestock, petroleum Stock exchanges - New York, London, Tokyo companies stocks traded
14	International Trade Buying and selling by different countries Imports - purchases from another country Exports - sales to another country
15	Trade Barriers Government restrictions Tariff - paid on imported goods - makes them more expensive Quotas - fixed amounts of goods entering a country
16	Economy The trading of goods and services on a widespread basis Businesses will intermix trading with many other businesses
17	Economy Capitalist - private citizens own and operate business Socialist - government owns many businesses Communists - government owns almost all business and property
18	G N P Gross National Product total value of all goods and services GNP per capita - GNP divided by population