Subline the main characteristics:
- Private property
- The demand and supply (the market) establishes the prices
- Public property
- Cycle crisis
- The State established the prices
- The State controls the economy
- Achieve the highest profit
- Endevour to give services to the citizens
The final price is the balance among the supply and the demand.
If the demand is high, the price is going to be high; and if the demand is low; the price is going to be low.
If the supply is high, the price is going to be low; and if the supply is low, the price is going to be high.
Look at this graph and answer:
a) Who produces more manufactured goods, MEDCs or LEDCs? MEDCs
b) And raw materials? LEDCs
c) What happens to the value of manufactured goods? (increase/decrease price) The manufactured goods are always more expensive than the raw materials.
d) And with raw materials? Their value go up and drop, but always go up a little.
e) Which are the consequences for LEDCs:
- They sell more raw materials and increase their profit
- They buy manufactured goods at high prices and sell raw materials at low prices and then increase their debt.
a) Who produces more manufactured goods, MEDCs or LEDCs? MEDCs
b) And raw materials? LEDCs
c) What happens to the value of manufactured goods? (increase/decrease price) The manufactured goods are always more expensive than the raw materials.
d) And with raw materials? Their value go up and drop, but always go up a little.
e) Which are the consequences for LEDCs:
- They sell more raw materials and increase their profit
- They buy manufactured goods at high prices and sell raw materials at low prices and then increase their debt.
- Subtropical climate
Hingh perdentage of rainfalls, high temperature in summers.
- Mediterranean climate
Mild winters, dry summers. high percentage of sunshine.
-The desert climateLow relative humdity and irregular rainfall. Very high temperatures.
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