 Economic activity may be classified into various categories, according to purpose.  When considering business ownership the classifications public & private are typically used.  Also classified according to what type of economic good is produced. (primary, secondary, tertiary, quaternary)

 usually composed of organizations that are privately owned and not part of the government.  corporations (both profit and non-profit), partnerships, and charities.  retail stores, credit unions, & local businesses will operate in the private sector.

 composed of organizations that are owned and operated by the government (federal, provincial, or municipal governments, depending on where you live).  educational bodies, health care bodies, police and prison services, and local and central government bodies and their departments

 When looking at what is actually produced for us, it is important to distinguish between the main types of industries  Primary  Secondary  Tertiary  Quaternary

 This involves the extraction or harvesting of resources directly from the Earth  Includes the production of raw material and basic foods.  Examples include farming, mining and logging. (They do not process the products at all rather send it off to factories to make a profit).

Hibernia offshore oil Fishery (Traditional) Voisey’s Bay Nickel Mine CBP&P/ various sawmills

 This group is involved in the processing of finished products from primary industries  All of manufacturing, processing, and construction lies within this sector  This includes all factories—those that refine metals, produce furniture, or pack farm products such as meat.

Country Ribbon Chicken Fish Processing Plants North Atlantic Refinery (Come by Chance) Vale Nickel Smelter (Long Harbour)

 Made Right Here….  NTV series hosted by Danielle Butt which provides brief profiles of local manufacturing companies and the products that they produce 

 Known as the service industry  provides services to the general population & to businesses  In 2005, over 75% of Canadians worked here  Examples include retail/wholesale sales, entertainment, education, health care, tourism, garages,

 Is service based like the tertiary sector, but it entails the use of high technology to produce, retrieve, store and distribute information.  Research & Development (R&D)  Using computers to develop information- processing software.  Using computers to analyze city traffic flows to provide information on suitable locations for new businesses.

 Hibernia invests 12 million in MUN Hibernia invests 12 million in MUN simulators for survival craft ROV tech/applications

 an-Economic-Sector.htm an-Economic-Sector.htm  We have been introduced to the idea of a 5 th sector – the Quinary Sector (branching from the quaternary) – however, for the purposes of this course, it will not be necessary to pursue this further than knowing it is recognized.

 The 4 Sectors of Industry are interrelated. An individual industry will often use more than one sector in order to produce products.  On the next slide we will see an example of how the four sectors relate together in the production of cotton clothes, part of the fashion industry. 16

17 PRIMARY Cotton is grown and picked on a cotton farm COTTON IN THE FASHION INDUSTRY...

18 PRIMARY SECONDARY Cotton is grown and picked on a cotton farm Cotton is processed to cloth, which is, in turn, sewn in to clothing. COTTON IN THE FASHION INDUSTRY...

19 PRIMARY SECONDARY TERTIARY Cotton is grown and picked on a cotton farm Cotton is processed to cloth, which is, in turn, sewn in to clothing. Cotton clothes (eg jeans, shirts etc) are sold in high street shops. COTTON IN THE FASHION INDUSTRY...

20 PRIMARY SECONDARY TERTIARY QUATERNARY: Research is carried out in to new ways of processing or growing cotton. e.g. organic cotton. Cotton is grown and picked on a cotton farm Cotton is processed to cloth, which is, in turn, sewn in to clothing. Cotton clothes (eg jeans, shirts etc) are sold in high street shops. COTTON IN THE FASHION INDUSTRY...

21 The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial sector... Models and fashion shows: tertiary.

22 The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial sector... Models and fashion shows: tertiary. Leather manufacture in a tannery: secondary

23 The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial sector... Models and fashion shows: tertiary. Leather manufacture in a tannery: secondary A shoe factory in hanoi: secondary

24 The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial sector... Models and fashion shows: tertiary. Leather manufacture in a tannery: secondary A shoe factory in hanoi: secondary Sheep farming and sheering for wool production: primary

25 The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial sector... Models and fashion shows: tertiary. Leather manufacture in a tannery: secondary A shoe factory in hanoi: secondary Sheep farming and sheering for wool production: primary Cosmetics research: quaternary

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 Statistics Canada: accueil?lang=eng accueil?lang=eng  Industry Canada: GDP and Sectors  to see the GDP associated with various sectors  GDP (gross domestic product) – measure of economic activity for a period of time. GDP is useful to analyze in that it can help identify trends, and therefore opportunities for new ventures.