Types of Industries. Essential Question What are the different types of industries?

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Presentation transcript:

Types of Industries

Essential Question What are the different types of industries?

Definition Industry: manufacturing of a good or service within a category; trade

Primary Takes natural resources from the earth

Primary Examples: Mining, forestry, fishing, agriculture

Secondary Makes products using the natural resources

Secondary Examples: Construction, factories, processing plants

Tertiary Provides a service

Tertiary Examples: Restaurants, hospitals, supermarkets, education, emergency services

Quaternary Gathers information

Quaternary Industries in this category research, gather, and provide information.

TERMS TO KNOW Factors of production: any materials or services used to produce goods or services Natural resources: something (forest, minerals, fresh water) that is found in nature and is necessary or useful to humans Labor: productive activity especially for economic gain Capital: the wealth (money or property) owned or employed in business by an individual, firm, corporation Entrepreneurs: a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.