1. E3209
1.3 Economic Sectors

2. How the marketplace is organized
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)

3. Business Ownership: Private Sector
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.

4. Business Ownership: Public 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

5. What is Produced: Industry Types
When looking at what is actually produced for us, it is important to distinguish between the main types of industries
Primary
Secondary
Tertiary
Quaternary

6. What is Produced: Primary
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).

7. Local Primary Industries
Voisey’s Bay Nickel Mine
Fishery (Traditional)
Hibernia offshore oil
Forestry/Logging

8. What is Produced: Secondary
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.

9. Local Secondary Industries
Country Ribbon Chicken
Fish Processing Plants
Vale Nickel Smelter (Long Harbour)
North Atlantic Refinery (Come by Chance)

10. What is Produced: Tertiary
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,

11. Local Tertiary Industries

12. What is Produced: Quaternary
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.

13. Local Quaternary Industries
Hibernia invests 12 million in MUN
simulators for survival craft
ROV tech/applications

14. Economic Sectors: NL Fishery
As you view the video, describe specific examples of the four main industries that we have discussed.
Record your response on the back of your handout
Ed’s Up NL Fishery

15. The 4 Sectors of Industry are interrelated
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. COTTON IN THE FASHION INDUSTRY...
PRIMARY
Cotton is grown and picked on a cotton farm

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

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

19. COTTON IN THE FASHION INDUSTRY...
PRIMARY
Cotton is grown and picked on a cotton farm
SECONDARY
TERTIARY
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.
QUATERNARY: Research is carried out in to new ways of processing or growing cotton. e.g. organic cotton.

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

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

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

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

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

25. So which are these do you think?

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