Sectors of the Economy

source: http://news.bbc.co.uk/2/hi/business/520874.stm

To understand tourism and where it fits into a country’s economy, we first need to look at how an economy works and what it is made up of.

SECTORS OF THE ECONOMY

Video link here: http://video.about.com/geography/What-is-an-Economic-Sector.htm

Next, we are going to have a look at this :Primary-sec-ter:

source: Key Geogrpahy

We are going to look at the activities together in class.

Employment Structure

Definitions:
Occupational (job) structure: This means the number of people who work in the different economic activities. It changes as a country develops.
Formal sector: This involves people who are employed in “regular” jobs. For example people who work in a factory.
Informal sector: This is when people sell items on the street; they do not pay tax.
GNP (Gross National Product): GNP is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad). GNP measures the value of goods and services that the country’s citizens produced regardless of their location. GNP is one measure of the economic condition of a country, assuming that a higher GNP leads to a higher quality of living.

Using the images below complete the following activities.

Activity 1:
Using the information in Fig 140 create a column graph using Numbers. Be sure to label the axis and give your graph a title. Put your graph and the following answers in your Evernote notebook.
Which country in the MEDC column has the highest GNP? Which country has the lowest GNP? Why do you think they are different? (hint: look at the difference in the percentages between the three different economic activities)
Which country in the LEDC column has the highest GNP? Which country has the lowest GNP? This information was published in 1995. Of the countries listed which one do you think may have changed the most? Why do you think this? (hint: we live in the country)


Activity 2:
Using Fig 142 what do you think is the most important difference between the formal and informal sector of the city (urban) economy? Why do you think this?


Activity 3:
What do you think are the advantages and disadvantages of selling fruit on the streets? Consider this question from the point of view of the seller, the customer and the city (urban) authorities (city council and police). You could complete this activity by creating a similar table as seen below.


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