people and economic activity intro Flashcards

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1
Q

Define economic activity

A

An activity carried on by humans, on a global scale, to produce goods or provide services for the purpose of a financial return

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2
Q

Define economic enterprise

A

An entity ( business) producing goods or providing services at a particular location on a local scale (in Australia) for the purpose of a financial return

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3
Q

What four sectors of the economy?

A

Primary
Secondary
Tertiary
Quaternary

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4
Q

What is the primary sector of the economy?

A

Harvesting resources from the biophysical environment (e.g. farming and mining)

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5
Q

What is the secondary sector of the economy?

A

Manufacturing, adding value to assembling products

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6
Q

What is the tertiary sector of the economy?

A

Services

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7
Q

What is the quaternary sector of the economy?

A

Information technology

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8
Q

What industry is viticulture in?

A

Viticulture is in the primary industry

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9
Q

Define sustainability

A

Development that meets the needs of the present without compromising the
ability of future generations to meet their own needs

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10
Q

Define ecological processes

A

The processes that play an essential role in
maintaining the integrity and continuity of an
ecosystem

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11
Q

What are some important ecological processors?
(3 answers)

A

Important ecological processes are water
and nutrient cycling, the flow of energy, and evolution by natural selection

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12
Q

What does every economic site need access to?
(8 answers)

A
  • A site
  • Resources
  • Labour
  • Capital -> $$$, equipment / buildings
  • Infrastructure -> water, power, transport
  • Technology -> ideas, techniques, equipment
  • Markets
  • Perhaps a particular set of biophysical conditions
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