Author: admin

Categories of Economic Systems.

Presently many economic systems are in place in the world. Out of these, the following systems are prominent: Household Level System Market System (Capitalist System) Socialist System Mixed Economic System 1. Household Level System: This system revolves around the household interest only. It is traditional system in which the people produce goods just enough to

Economic Activities.

Economic Activities cover all the stages from the extraction of natural resources from earth and manufacturing of goods to all the marketing processes such as transportation, communication and banking etc. At the global level, the chain of economic activities involve millions of workers in mines, factories and fields along with other producers, consumers, traders, transporters

Definition and Scope of Economic Geography

In present modern scientific era, Economic Geography has gained great importance because it covers all aspects of production, trade, business, transport and planning. Definition: Economic Geography is a branch of Geography which studies the economic activities, world economic systems, agriculture, manufacturing, production, consumption, resources, transportation, trade and the relationship between the least developed countries and

Malthusian Theory of Population.

Rapid increase in the population of the world since 1900 has been the main cause of poverty, illiteracy and economic misery particularly in Asia, Africa and Latin America. Population of the world was only 200 million in 1 A.D and doubled to 450 million in 1500 A.D. Thus it took 1500 years to double but

Environmental Determinism and Possibilism:

Historical Background: It is the doctrine that human activities are controlled by environment. This belief has deep roots in ancient history. For example, Hippocrates linked the characteristics of people in a particular place to the influence of environmental factors such as terrain, altitude and humidity. Similarly Aristotle also said that the world’s climatic zones determined