Unit 5

Unit 5Learning OBjectiveStudent will be able to identify primary, secondary, and tertiary sector economies. Economic Activities: 3 Main TypesPrimary Sector (Agriculture): Part of the economy that draws raw materials from the natural environment. The primary sector includes: agriculture, raising animals, fishing, forestry, and mining.

Largest in low-income & pre-industrial nations

Economic Activities ContSecondary Sector (Industry): part of the economy that transforms raw materials into manufactured goods.

Grows quickly as societies industrialize, and includes such operations as refining petroleum into gasoline and turning metals into tools

Economic Activities ContTertiary Sector (Services): Part of the economy that involves services rather than goods.Grows with industrialization and is dominate in post-industrial societies.Countries where most people are no longer employed in industryExamples of Tertiary: Construction, trade, finance, real estate, government, & transportationEconomic Activities ContSub-Groups Under TertiaryQuaternary Sector: Service jobs concerned with research and development, management and administration, and processing and disseminating informationQuinary Sector: High level decision making roles in large organizations. Video