Economic Activity Levels

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Presentation transcript:

Economic Activity Levels In a society of little economic development, universal inactivity accompanies universal poverty. ~Ryszard Kapuscinski

Primary Activities Industries that take natural resources directly from the environment. The production of raw materials. Fishing, forestry, agriculture, mining, etc.

Secondary Activities Industries that use raw materials to produce something new & more valuable. Results in a finished, tangible product. manufacturing, processing, construction , electricity production, etc.

Tertiary Activities Industries that provide a service to people & businesses. Health care, sales, transportation, banking, entertainment, restaurants, clerical services, tourism, insurance, law, etc.

Quaternary Activities Industries providing information services. Involves the generation, processing, management & distribution of information. Research & development, consultation, education, media, & information technology.

Indicators of Economic Development Infrastructure- the framework of technical structures that support a society Communications networks, water supply, waste disposal, power grids, transportation, etc.

Indicators of Economic Development Industrialization- the transition from an agricultural society to one based on manufacturing & trade.

Indicators of Economic Development Agriculture Gatherers & Herders Foraging for food & following herds of animals Nomadic- moving from place to place. This way of life is dying out.

Indicators of Economic Development Subsistence Farming Growing only enough food for one’s own family or village. Animals & people provide most of the labor; small plots A majority of people in the world are involved in this type of agriculture.

Indicators of Economic Development Commercial Farming Crops & livestock are raised to be sold. Farmers use modern techniques & equipment to be more productive; huge plots <10% of the population in industrialized countries