WHAT ARE THE DIFFERENT TYPES OF INDUSTRIES?

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WHAT ARE THE DIFFERENT TYPES OF INDUSTRIES? INDUSTRIALIZATION WHAT ARE THE DIFFERENT TYPES OF INDUSTRIES?

Primary Industries Involves taking resources from the land (extractive) Examples: mining; agriculture; fishing; hunting and gathering; lumbering and forestry

Secondary Industries Involves processing resources into goods/finished products Examples: include light industry—textiles; food processing; small appliances

Tertiary Industries Economic services; facilitate commerce and trade Examples: selling the goods produced; banking; health care; tourist industry; routine office-based jobs; retailing

Types of Tertiary Industries QUATERNARY INDUSTRIES Service industries concerned with the collection, processing, and manipulation of information and capital Finance Administration Insurance Legal services QUINARY INDUSTRIES Part of the service sector that requires a high level of specialized knowledge or technical skill Scientific research High level management

What are the differences between heavy industry and high tech industry? Both are secondary industries. However, heavy industry uses a fairly simple process and much energy and/or raw materials to make a general product such as iron, gasoline, glass, or cloth. High-tech industry uses a more complicated process and much skilled labor and/or machinery to make a sophisticated product such as a computer, laser, or composite plastic.

How do telecommunications and other high-tech firms decide where to locate? Distance to raw materials or markets is less important than for steel or other heavy products. It is more important to have skilled workers (e.g. science and engineering) and related businesses nearby. Hi-tech industries depend on innovation. Much scientific research in the U.S. takes place at large universities. Places with large amounts of both research time and venture capital are better for a new high-tech company than places without those advantages. Favorable taxes and regulations are also preferred by high tech companies.

High Tech or Heavy Industry? A loaf of bread Television set Cotton towel Plastic car fender Polyester sleeping bag Piece of lumber Camera lens