UNIT 5

LEARNING OBJECTIVE  Student will be able to identify primary, secondary, and tertiary sector economies.

ECONOMIC ACTIVITIES: 3 MAIN TYPES  Primary Sector (Agriculture): Part of the economy that draws raw materials from the natural environment. The primary sector includes: agriculture, raising animals, fishing, forestry, and mining.  Largest in low-income & pre-industrial nations

ECONOMIC ACTIVITIES CONT…  Secondary Sector (Industry): part of the economy that transforms raw materials into manufactured goods.  Grows quickly as societies industrialize, and includes such operations as refining petroleum into gasoline and turning metals into tools

ECONOMIC ACTIVITIES CONT…  Tertiary Sector (Services): Part of the economy that involves services rather than goods.  Grows with industrialization and is dominate in post- industrial societies.  Countries where most people are no longer employed in industry  Examples of Tertiary: Construction, trade, finance, real estate, government, & transportation

ECONOMIC ACTIVITIES CONT…  Sub-Groups Under Tertiary  Quaternary Sector: Service jobs concerned with research and development, management and administration, and processing and disseminating information  Quinary Sector: High level decision making roles in large organizations.

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