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The Chain of Production
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The Sectors of the Economy
Primary Sector – Extractive Industry Secondary Sector – Construction & Manufacturing Tertiary Sector – Service Sector
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Primary Sector Also known as extractive insdustry.
Turns natural resources into raw materials for use in secondary sector. Eg. agriculture/farmer, forestry, fishing, mining.
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Secondary Sector The manufacturing & construction sector of the economy. It turns raw materials into finished products. e.g. Baker, builder, factory, machinist……
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Tertiary Sector Service Sector.
Provides support services for the extractive & manufacturing sectors and to consumers. e.g. finance, insurance, medical, beauty, recreation……… It is the last to develop, but eventually becomes largest employer.
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Distinguish Between Chain of Production How the product is created
Primary Sector Secondary Sector Tertiary Sector Chain/channels of Distribution How/where the product is sold Manufacturer Wholesaler Retailer Consumer
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