2.1 structure of the economy

Question 1

what are the 4 sectors

Answer 1

pri
sec
tertiary
quaternary

Question 2

what is the pri sector?

Answer 2

• extraction of raw materials
• jobs: farmers, coal miners, hunters, etc)
• some pri products are sold directly to the consumer, but most go to the sec sector for processing

Question 3

what is the sec sector?

Answer 3

• manufactures pri materials into finished products (wood to furniture, steel to cars, etc)
• includes manu of components used by other manu industries
• jobs: seamstress, factory worker, craftsmen

Question 4

what is the tertiary sector?

Answer 4

• service sector (provides services to businesses and ppl)
• services: activities that dont produce/ modify goods
• enables goods to be traded (retail, transport, distribution, edu, entertainment)
• mkt-oriented can be → req f2f interaction, though some dont need due to improvements in telecoms tech