Intro to Economic Geography: Vocabulary

A system in which people produce and consume goods & services.

• economy

• economic activity

• raw materials

• primary sector

The production of goods and services.

• economic activity

• economy

• raw materials

• capital

Economic activity that involves taking raw materials from the earth or water.

• primary sector

• secondary sector

• tertiary sector

• services

Economic activity that involves using raw materials to manufacture goods

• primary sector

• secondary sector

• tertiary sector

• services

Economic activity that involves the production of services.

• primary sector

• secondary sector

• tertiary sector

• capital

A country's wealth or infrastructure.

• capital

• entrepreneurship

• mixed economy

• gross domestic product

A factor of production that involves the creativity and risk needed to develop new goods and services.

• entrepreneurship

• capital

• primary sector

• economic activity

An economic system that has elements of a free enterprise and command economy

• traditonal economy

• free enterprise economy

• mixed economy

• command economy

The scientific study of human society and social relationships

• social science

• economics

• economic systems

• economics

The creation of a good or service.

• production

• distribution

• consumption

• economics