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Sectors of the Economy
Transcript of Sectors of the Economy
Sectors of the Economy
Manufacturing or processing raw materials into something new or a finished product
Examples: Manufacturing steel, Wood into Lumber, cloth into textiles/clothes
Secondary Countries = Countries become more developed
Providing a service to people and businesses
Workers distribute products/services to the economy
Examples: Car dealerships, Bus driver, Doctor/Nurse, Fireman, Police Officer, Hotels
Tertiary Countries = These countries are Developed (United States, Japan)
The information sector
Workers process and research
Examples: Education!!!, Schools, Colleges, Design Engineers, Computer Programmers
Quaternary Countries = Highly developed (Wealthy nations) U.S. is mixture of Quaternary and Tertiary
Using natural resources or harvesting goods directly from the land
Examples: Wheat Farming, Mining, Fishing, Forestry
Primary level economy = Developing Country (Many countries in Africa and Asia)
Gold Mining in Africa
Trees -> Lumber
Textile -> Clothes
Canned Primary Goods (Tuna...mmm)
How paper is made
Law Enforcement Service
Demographic Transition Model
Where do countries involved in these sectors fall in the demographic transition model???
Predict, what is the next step?
Make a list of products you buy that has corn in it?
What is some key decisions you have to think about when starting any industry/company?
Quinary - branch of a country's economy where high-level decisions are made by top-level executives in the government, industry, business, or education.
* Doesn't necessarily deal with money.
Explain how a country where 55% of the people work in agriculture and a country where 8% of the people work in agriculture would look like in terms of demographics and overall development.