Economic Sectors: All Jobs fall into 1 of 3 sectors

Primary Sector: extraction of resources (Fishing, mining, farming, forestry)

Secondary Sector: Processing of Natural Resources (Manufacturing,and Building)

Tertiary: Providing services rather than with natural resources (Marketing, Banking, Design, Electronic services)

Least Cost Theory- Developed by German economist Alfred Weber in which an industry is located where the transportation costs of raw materials to the factory is a minimum.

Us Millinium Development Goals:

1. eradicate extreme poverty and hunger
2. achieve universal primary education
3. promote gender equality and empower women
4. reduce child mortality
5. improve maternal health
6. combat HIV/AIDS, malaria, and other diseases
7. ensure environmental sustainability
8. develop a global partnership for development

(GNP), (GDP), (GNI)

Gross National Product- the total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments.

Gross Domestic Product- the total value of goods produced and services provided in a country during one year.

Gross National Income- the total domestic and foreign output claimed by residents of a country

Postindustrial Landscape:

As the Types of economic activities that exist in a region change so does the economic landscape. Many wealthier countries now have a postindustrial economy, that no longer employs large numbers of people in factories. many people are providing services and processing information. The shift from an industrial to a postindustrial economy changes the landscape of a country.

Resource depletion:

Development is not sustainable when people overuse resources. For example if farmers grow crops in ways that cause extensive soil erosion, land that is fertile today will not be in the future, and food supplies will decrease. to protect soil many farmers have changed how they plow and plant.