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Questions and Answers
What is the Clark-Fisher model?
What is the Clark-Fisher model?
- A model explaining how countries develop socially
- A model explaining how countries develop politically
- A model explaining how countries develop environmentally
- A model explaining how countries develop economically (correct)
What are some factors that contribute to the changing importance of economic sectors in a country?
What are some factors that contribute to the changing importance of economic sectors in a country?
- Changes in international trade agreements, cultural values, and education levels
- Changes in consumer preferences, government regulations, and natural disasters
- Climate changes, political instability, and population growth
- Location changes, depletion of raw materials, and technological advances (correct)
What is an example of a new industry created by technological advances?
What is an example of a new industry created by technological advances?
- Agriculture
- Mining
- High-tech industries (correct)
- Textile manufacturing
What is globalization?
What is globalization?
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How might governments intervene in the economy?
How might governments intervene in the economy?
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What impact has mechanization had on the economy?
What impact has mechanization had on the economy?
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How have advances in transport and communication technology affected the world?
How have advances in transport and communication technology affected the world?
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Study Notes
- The Clark-Fisher model explains how economic sectors change in importance as a country develops.
- This is due to factors such as location changes, depletion of raw materials, and technological advances.
- Technological advances have created new industries and products, such as high-tech industries and smart devices.
- Globalization has led to countries becoming more interconnected and dependent on each other.
- Governments may intervene in the economy to support certain sectors or compensate for job losses.
- Mechanization has reduced demand for labor in agriculture and manufacturing, leading to a shift to the tertiary sector.
- Advances in transport and communication technology have reduced the friction of distance and made places closer.
- Globalization allows countries to focus on their economic strengths and participate in international trade.
- Kenya grows fresh produce for European markets, South Korea exports competitively-priced cars, and India has international call centers.
- China has focused on expanding the secondary sector and producing goods for the global market.
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