Chapter 11: The Atlantic Economy

Chapter 11: The Atlantic Economy pp. 156 - 157 Primary Industry: activities in which people use, extract, or harvest natural resources – (fishing, mining, forestry, agriculture, quarrying.) The products are only slightly altered before being used. Secondary Industry: processing of raw materials into finished goods. These materials are substantially different from the original materials and are worth more – value added. (manufacturing and construction)

Chapter 11: The Atlantic Economy Tertiary Industry: enable consumers to obtain and use finished goods. Workers in the tertiary industries provide services rather than goods. ( sales, repairs, banking, and insurance.) Quaternary Industry: involves specialized technology. Usually provide services rather than goods, and are often grouped with tertiary industries. (research scientists, computer software designers.)

Chapter 11: The Atlantic Economy Value added: the increase in value of a product once it has been processed by the secondary industry. Questions: Which industry is Atlantic Canada most dependent? Why? Which sectors do you expect to grow? Which do you expect to decline? Why?

Chapter 11: The Atlantic Economy Which sector do each of the following belong? Manufacture of CD-ROMs Web site design Hotel business Fish farming Teaching Manufacture of tissue Computer software design

Chapter 11: The Atlantic Economy Read pp. 156 – 158 Answer #1 p. 158

Chapter 11: The Atlantic Economy Primary Secondary Tertiary Quaternary gold mining making bread retailing fish fillets

Chapter 11: The Atlantic Economy pp. 159 - 161 Primary Industry: Natural resources – materials found in the natural environment that can satisfy human needs and wants It is a resource only if three conditions are met 1) society must feel it needs the material 2) technology must be advanced enough to extract it 3) it must be economical to extract and use it

Chapter 11: The Atlantic Economy pp. 162 - 163 Aquaculture – fish farming Answer question #1 & #2 p. 163. Secondary Industry: Potato Chips Secondary industries include manufacturing and construction.

Chapter 11: The Atlantic Economy pp. 169 - 174 First-stage manufacturing: processing raw materials Second-stage manufacturing: using processed materials to make finished products Answer: What is diversification? List 7 reasons explaining why an industry will choose a specific location.

Chapter 11: The Atlantic Economy pp. 174 - 178 The new economy: In the main industries, old economy involved work that was resource based. New economy involves work that is knowledge based. In the labor force, old economy was based on manual labor, new economy is based on information processors. As a result of new economy, education has become more advanced than in the days of the old economy.

Chapter 11: The Atlantic Economy Activity: Track job advertisements in the newspaper over a week and record the number of jobs advertised and qualifications required in each of the four sectors. Share results. What can you deduct from this information?

Chapter 11: The Atlantic Economy Test Review: List the four sectors of our economy, and explain what is involved with each. Explain the “new economy” and provide 5 examples compared to the old economy. Explain: natural resources, aquaculture, crop rotation, and diversification. Be able to complete sector chart.