Economic Activities
Primary Economic Activities
The Use of Basic Materials
Primary economic activities are the portion of the country’s economy that relies on basic natural resources like mining, fishing, agriculture and forestry. Productivity and reliability varies in these industries because they depend on weather and natural elements (fertile soil, rain, no droughts). They are also dependent upon exchange rates and other industries to set their prices, because the manufacturers have more economic pull than the farmers.
Primary Sector Workers often work for extremely low wages, or bring in zero money if they are working on their own land. To move out of the primary sector and into the secondary sector is the hardest of all moves, as you have no way to earn or save money.
Primary economic activities are the portion of the country’s economy that relies on basic natural resources like mining, fishing, agriculture and forestry. Productivity and reliability varies in these industries because they depend on weather and natural elements (fertile soil, rain, no droughts). They are also dependent upon exchange rates and other industries to set their prices, because the manufacturers have more economic pull than the farmers.
Primary Sector Workers often work for extremely low wages, or bring in zero money if they are working on their own land. To move out of the primary sector and into the secondary sector is the hardest of all moves, as you have no way to earn or save money.
Secondary Economic Activities
The Processing Sector
Secondary economic activities are made up of industries that process basic materials obtained by the primary sector, and turn them into products. An example would be coal transformed into energy. The secondary sector, or second level, usually consists of manufacturing textiles (fabrics), clothing, footwear, and the manufacturing of basic woods and metals.
Secondary Sector workers typically work long hours in dangerous jobs. Though wages are earned, it is rarely enough to be considered wealthy. Most secondary workers are above the poverty line, however they could easily fall back into poverty, or extreme levels of being poor.
Secondary economic activities are made up of industries that process basic materials obtained by the primary sector, and turn them into products. An example would be coal transformed into energy. The secondary sector, or second level, usually consists of manufacturing textiles (fabrics), clothing, footwear, and the manufacturing of basic woods and metals.
Secondary Sector workers typically work long hours in dangerous jobs. Though wages are earned, it is rarely enough to be considered wealthy. Most secondary workers are above the poverty line, however they could easily fall back into poverty, or extreme levels of being poor.
Tertiary Economic Activities
The Service Sector
Tertiary, or third-level, economic activities consists of a range of service activities related to transport, storage, communication, real estate, and business. Tertiary Sector Workers go to work and do not usually ‘make’ anything, but instead focus on interacting with people. Workers usually have to complete additional education in order to qualify for jobs, which include teachers, doctors, nurses, lawyers, truck drivers, musicians and accountants.
Tertiary economic activities are important because they provide services that are needed by all members of society. These services can be either public, which are distributed by the government and paid for with taxpayer funds; they can also be private, paid for and distributed by corporations. Without these services, society would not be able to function efficiently.
Tertiary, or third-level, economic activities consists of a range of service activities related to transport, storage, communication, real estate, and business. Tertiary Sector Workers go to work and do not usually ‘make’ anything, but instead focus on interacting with people. Workers usually have to complete additional education in order to qualify for jobs, which include teachers, doctors, nurses, lawyers, truck drivers, musicians and accountants.
Tertiary economic activities are important because they provide services that are needed by all members of society. These services can be either public, which are distributed by the government and paid for with taxpayer funds; they can also be private, paid for and distributed by corporations. Without these services, society would not be able to function efficiently.
Quaternary Economic Activities
The Information Sector
The Quaternary sector involves information-based services and includes intellectual activities and services such as research and development, media, culture, and information and communications technology like scientific researchers, statisticians and software developers. Workers in this sector are typically well-educated, and people are often seen earning well through their participation in this industry.
The professions included in this sector focus on interpretation of existing or the new ideas, evaluation of new technologies, and the creation of services. It involves highly paid professionals, research scientists, and government officials and leaders. The people are designated with high positions and powers, and those who make important decisions often belong to this category
The Quaternary sector involves information-based services and includes intellectual activities and services such as research and development, media, culture, and information and communications technology like scientific researchers, statisticians and software developers. Workers in this sector are typically well-educated, and people are often seen earning well through their participation in this industry.
The professions included in this sector focus on interpretation of existing or the new ideas, evaluation of new technologies, and the creation of services. It involves highly paid professionals, research scientists, and government officials and leaders. The people are designated with high positions and powers, and those who make important decisions often belong to this category