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Chapter 3 - The Worlds People Glencoe McGraw-Hill The World & Its People 3.3 Resources & World Trade

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3.3 Resources & World Trade Section Objectives 1.Distinguish between renewable & nonrenewable resources. 2.Explain why people trade. 3.Describe how the worlds economies are changing.

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I. Natural Resources - products of the earth that people use to meet their needs (ex: trees, fertile soil, clean water, etc.)

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I. Natural Resources A.Renewable resources A.Renewable resources- cannot be used up or can be replaced naturally

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I. Natural Resources B.Nonrenewable resources B.Nonrenewable resources- minerals found within the earth that cannot be replaced (ex: nuclear energy & fossil fuels like coal, oil & natural gas)

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sets rules for deciding what goods & services to produce, how to produce them, & who receives them. There are types II. Economic Systems

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based on customs handed down from generation to generation A. Traditional -

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government makes all decisions B. Command -

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Individuals make decisions about what & how to produce C. Market -

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aspects of 2 of the above D. Mixed - USDA

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Import FROM Import - buy FROM another country III. World Trade

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Export TO Export - trade TO other countries III. World Trade A Roll-On/Roll-Off (RO/RO) ship is specifically designed to carry wheeled and tracked vehicles as all or most of its cargo. Vehicles are driven on and off the ship by means of the ship's own ramps and are safely stowed and secured under deck. Below-deck space and volume utilization is more efficient than on a container ship, because RO/RO Carriers are designed to accommodate cargoes which cannot be stacked but which vary in height.

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1.Tariff 1.Tariff- tax added to the price of goods that are imported A. Barriers to Trade September 11, 2012 Washington, D.C. United States Trade Representative Ron Kirk today announced the country-specific in-quota allocations under the tariff-rate quotas on imported raw cane sugar, refined and specialty sugar and sugar-containing products for Fiscal Year (FY) 2013 (Oct. 1, 2012 through Sept. 30, 2013). Tariff-rate quotas allow countries to export specified quantities of a product to the United States at a relatively low tariff, but subject all imports of the product above a pre-determined threshold to a higher tariff. See http://www.ustr.gov/node/7747 for full announcement.http://www.ustr.gov/node/7747

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http://www.mrvanduyne.com/jackson/html/tariff.htm

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2.Quota 2.Quota- number limit on how many items can be imported from another country A. Barriers to Trade First Quota Auction for US Chicken Leg Quarters to Take Place in October 14 September 2012 US - Organizations representing the US and Colombian poultry industries have announced the first quota auction for sales of US chicken leg quarters to Colombia as part of the US-Colombia Free Trade Agreement The USA Poultry & Egg Export Council (USAPEEC) and FENAVI Colombias Federacin Nacional de Avicultores said that they have launched a dedicated website to handle all sales transactions for the quota, which is 6,750 metric tons for the remainder of 2012.

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removing trade barriers so that goods flow freely among countries (ex: NAFTA, EU) B. Free Trade -

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A.Developed countries A.Developed countries- countries that have a great deal of manufacturing IV. Differences in Development

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B.Developing countries B.Developing countries- still working toward industrialization IV. Differences in Development http://www.whatcausesthis.com/what-causes-poverty/

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http://www.forbes.com/sites/evapereira/2011/01/12/developing-countries-will-lead-global-growth-in-2011-says-world-bank/