1. Economic systems

2. What is an ecosystem?

3. What is an ecosystem? An ecosystem describes how the factors below interact with each other. An economic system is the process of production, distribution and consumption. Input – what goes in Outputs – what goes out Processes – what goes on

4. Different types of economic systems: A closed system – subsistence farming Input – labour, seed, animals, manure, soil, rain & sunlight. Outputs – food, seed, manure & food energy back into the ecosystem as inputs. Processes – planting, weeding, harvesting & tending stock.

6. An open system – manufacturing industry Inputs – what has to be paid for, raw materials, labour supply, energy/power, site, finance and machinery Outputs – The sale (leading to profit or loss), finished products & waste products. Income from sales used as reinvestments Processes – Processing, packaging and assembly, distribution

7. What factors affect locations of different types of economic activity?

9. What is Primary, Secondary and Tertiary?