Spatial Distribution of Major Economic Development

North Korea's command economy- Kim II-Sung's aspiration of bringing the entire peninsula under his communist rule failed. Soon after, North Korea (DPRK) established its national economy through heavy industry-first development and military-economy parallel development. Many experts believe that these policies have been an obstacle to the country’s economic development.

Germany's Market Economy- The economy of Germany is a highly developed social market economy. It has the largest national economy in Europe, the fourth-largest by nominal GDP in the world, and fifth by GDP (PPP).

Command Economy- an economy in which production, investment, prices, and incomes are determined centrally by a government.

Ex. Soviet Union, China, Republic of Vietnam..

Traditional Economy- A traditional economy is a system that relies on customs, history, and time-honored beliefs. Tradition guides economic decisions such as production and distribution.

Market Economy- an economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's individual citizens and businesses. There is little government intervention or central planning.

Farm Subsidies- An agricultural subsidy (also called an agricultural incentive), is a government incentive paid to agribusinesses, agricultural organizations and farms to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities.

Tax Incentive- A tax incentive is a government measure that is intended to encourage individuals and businesses to spend money or to save money by reducing the amount of tax that they have to pay.

Chapter 2- Spatial relationships between economic activities

Primary Economic Activities-  Activities associated with the primary sector include agriculture (both subsistence and commercial), mining, forestry, farming, grazing, hunting and gathering, fishing, and quarrying.

Secondary Economic Activites- Secondary economic activities involve the processing of raw materials (primary products). Examples would include turning timber into furniture and turning iron-ore into steel. Any factory can be seen as a system involving inputs (e.g. timber) processes (e.g. cabinet making) and outputs (e.g. tables and chairs).

Tertiary Economic Activites- Transportation, health care, food service, retail sales, advertising, entertainment, tourism, banking, law, etc. are all examples of tertiary-level sectors.

Automobiles- A car (or automobile) is a wheeled motor vehicle used for transportation.

Computers- An electronic device for storing and processing data, typically in binary form, according to instructions given to it in a variable program.

Von Thunen Model- The Von Thunen Model is a theory fronted by 19th-century German economist, Johann Heinrich von Thunen which outlines an ideal state whose plan revolves around farming practices, focusing on a plan which would make farming most profitable.

Christaller's Central Place Theory- A geographical theory that seeks to explain the number, size and location of human settlements in a residential system. The theory was created by the German geographer Walter Christaller, who asserted that settlements simply functioned as 'central places' providing services to surrounding areas.

Oil towns in Texas and Oklahoma- Houtson, TX & Cushing, OK are the biggest oil towns in their respective states.

High-tech corridors of cities in India- Bangalore is the IT Capital of India and a global information technology hub in the country. The city is known as the Silicon Valley of India with large number of software companies in India and many top Indian firms like Infosys, Wipro, Mindtree are headquartered in Bangalore.

Textile Mill Towns in North and South Carolina- Henry Mill Village, NC, Woodside Cotton Mill Village Historic District, SC, & Cotton Mill Village, SC

Chap 3- Factors That Influence Economic Activites