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Economics Basics
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Economics Basics

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@SanePolonium

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Questions and Answers

What is the term used to describe the average number of people living in a particular place?

  • Gross Domestic Product (GDP)
  • Consumer Spending
  • Investments
  • Population Density (correct)
  • Which type of population distribution is characterized by settlements being spread evenly across the land?

  • Random
  • Concentrated
  • Linear
  • Dispersed (correct)
  • What is the term used to describe the process of selling goods to other countries?

  • Foreign Trade (correct)
  • Importing
  • Exporting
  • Domestic Trade
  • Who developed the theory of plate tectonics in 1965?

    <p>Tuzo Wilson</p> Signup and view all the answers

    What is the term used to describe the way populations grow, by multiplying the population and not adding to the population?

    <p>Compounding</p> Signup and view all the answers

    What is the term used to describe the study of the Earth using images taken from above?

    <p>Remote Sensing</p> Signup and view all the answers

    What is the term used to describe the movement of continents resulting from the motion of tectonic plates?

    <p>Continental Drift</p> Signup and view all the answers

    What is the term used to describe the weather conditions of a place averaged over a long time?

    <p>Climate</p> Signup and view all the answers

    What percentage of Canada's forests are coniferous?

    <p>66%</p> Signup and view all the answers

    What is the primary characteristic of basic industries?

    <p>Selling goods or services to people outside the local community</p> Signup and view all the answers

    What is the term for goods and services brought in and used from other countries?

    <p>Imports</p> Signup and view all the answers

    What is the age range of the population that makes up the dependency load?

    <p>0-14 and 65+</p> Signup and view all the answers

    What percentage of Canada's economy is made up of primary industries?

    <p>4.1%</p> Signup and view all the answers

    What is the term for the average lifespan of a population of people living in a specific area?

    <p>Life Expectancy</p> Signup and view all the answers

    What type of resources regenerate themselves naturally if used carefully?

    <p>Renewable Resources</p> Signup and view all the answers

    What is the term for the total number of children a woman would need to have in order to replace herself and her partner?

    <p>Replacement Rate</p> Signup and view all the answers

    Study Notes

    Population and Economy

    • Population Density: The average number of people living in a particular place
    • Gross Domestic Product (GDP): A measure of the total value of goods and services produced within a period
    • Consumer Spending: Money spent on new goods or services
    • Investments: Money distributed to sectors to increase growth
    • Government Spending: Money spent on goods and services by the government
    • Value of Total Goods: Money spent on imported or exported goods

    Geography

    • Longitude: Imaginary line measuring the distance East or West of the Prime Meridian
    • Latitude: Imaginary lines measuring the distance North or South of the Equator, 111km apart
    • Prime Meridian: (0°) An Imaginary point that runs through Greenwich, England
    • Population Distribution:
      • Dispersed: Spread evenly across the land, often in agricultural areas
      • Concentrated: Focused on patches near resources, such as natural resources (e.g. gold, water sources)
      • Linear: Settled along a line, often along highways and the Ocean coast

    Remote Sensing and Climate

    • GPS: Global Positioning System
    • Remote Sensing: The study of the Earth using images taken from above, using:
      • Aircraft: Covers small areas, showing more detail
      • Satellites: Covers larger areas, showing less detail
    • Climate: Weather conditions of a place averaged over a long time
    • Weather: Combination of temperature, precipitation, cloud cover, and winds experienced daily

    Trade and Environment

    • Foreign Trade: The process of selling goods to other countries, usually through agreements
    • Continental Drift / Plate Tectonics: The movement of continents resulting from the motion of tectonic plates, developed by Tuzo Wilson in 1965
    • Compounding: The way populations grow, by multiplying the population and not adding to the population

    Forests and Economy

    • Coniferous: Softwood forests make up 66% of Canada's forests, e.g. Fir, pine, and spruce
    • Deciduous: Hardwood forests make up 12% of Canada's forests, e.g. oak, walnut, maple, and beech
    • Import vs Export:
      • Imports: Goods and services brought in and used from other countries
      • Exports: Goods and services sold or traded to other countries

    Demographics and Industry

    • Dependency Load: The part of the population that needs to be supported, made up of 0-14 and 65+ age groups (33% in Canada)
    • Rural: Area or regions located outside towns and cities, characterized by low population density, large open spaces, agriculture, and forestry
    • Urban: Area or regions with high population density and infrastructure
    • Basic Industry: Selling goods or services to people outside the local community, bringing new money into the local economy
    • Non-Basic Industry: Selling goods or services to people within the local community, recycling existing money in the local economy

    Population and Resources

    • Replacement Rate (RR): The TFR that will result in a stable population, 2.1 children/woman
    • Life Expectancy: Average lifespan of a population of people living in sq km
    • NIMBY: Not In My Back Yard
    • Primary Industries: 4.1% of the economy, extracting raw materials from the ground or water, e.g. Mining, farming, forestry, fishing
    • Secondary Industries: 20.7% of the economy, manufacturing products by putting things together, e.g. Auto assembly plants, factories
    • Tertiary Industries: 75.2% of the economy, providing services, e.g. Doctors, lawyers, teachers
    • Natural Resource: Things found in the total stock that people find useful
    • Renewable Resources: Regenerate themselves naturally if used carefully, e.g. Fish, animals, trees, soil
    • Non-renewable Resources: Take millions of years to regenerate themselves, e.g. Minerals, fossil fuels
    • Flow Resources: Constantly being reproduced by nature, their supply can't be damaged by humans, e.g. Water, sun, wind

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