Systems Levels of Activity

Traditional Concepts Economics & the World

100 100 100 100 100

200 200 200 200 200

300 300 300 300 300

400 400 400 400 400

500 500 500 500 500

Geography Jeopardy!Economics

Final Jeopardy! Question Economics

Economic descriptors

System governed by “supply and demand”, features include private ownership of businesses

Free market/Capitalism

Systems100

System governed by “greater good”, features include collective labor ownership of businesses

Socialism

Systems 200

System governed by “greater good”, features

include government/small party ownership of businesses

Communism/Command economy

Systems 300

CommunismSystem envisioned by

Karl Marx

Systems 400

Although most countries identify

themselves as capitalist or communist, a more

correct descriptor of all economies

Mixed economy

Systems 500

The level of economic activity represented by information processing and management – i.e.,

technology development, research

Quaternary (4)

Levels of activity100

The level of economic activity represented by

providing services – i.e., supermarket, teacher,

doctor

Tertiary (3)

Levels of activity200

The level of economic activity represented by the production of raw

materials – i.e., agriculture, mining,

fishing

Primary (1)

Levels of activity300

The level of economic activity represented by

making or refining products from raw

materials – i.e., making furniture, turning crude

oil into gasoline

Secondary (2)

Levels of activity400

Name one career at each level of economic

activity

(Answers vary – points awarded at teacher discretion)

Levels of activity500

Swapping goods and services without the use

of money

Barter

Traditional100

Producing just enough to provide food for yourself and your

family

Subsistence agriculture

Traditional300

Small-scale production based in the home

Cottage industry

Traditional200

The levels of economic activity most likely to occur in a developing

nation

Primary and secondary

Traditional400

A term used to describe pre-industrial societies with low standards of

living

Less Developed

Traditional500

OutsourcingThe physical separation of economic activities from

the main production facility, usually for the purpose of employing

cheaper labor

Concepts100

Gross Domestic ProductThe total value of goods

and services created within a country

Concepts200

SpecializationProduction of a limited

scope of products or services in order to gain

greater degrees of productive efficiency

Concepts300

TariffsTaxes imposed on certain

imported goods and services to keep out

foreign competition and allow the growth of domestic economic

sectors

Concepts400

IndustrializationThe development of

manufacturing facilities on an extensive scale – a “revolution” of this sort

transformed economies in Europe and the U.S.

Concepts500

NAFTAAn agreement that

removed tariff and non-tariff barriers to trade

between the U.S., Canada, and Mexico

Economics & the World100

Export-based economyMany countries in Latin

America have this type of economy; its disadvantage

is a dependence on economic strength in other

regions of the world

Economics & the World200

Import-based economyJapan and Hawaii both

have this kind of economy due to their lack of land to produce their own goods

Economics & the World300

European UnionCreated by a number of European countries to

better coordinate economic activities

Economics & the World400

Columbian ExchangeHistorical term used to describe the transfer of

plants, animals, and goods between the “Old World”

and the “New World”

Economics & the World500

Used to measure relative wealth between

nations – ignores the inequalities within

society by pretending it is equally distributed to

all people

GDP Per Capita

Final Jeopardy!