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.