Categories of Industry

Question 1

categories of industry

Answer 1

the industrial divisions in an economy ie primary, secondary, tertiary

Question 2

primary sector

Answer 2

agriculture
forestry
fishing
energy - quarry, oil, gas, mining

Question 3

importance of primary sector

Answer 3

creates employment
supplies for secondary industry
-prevents imports of raw materials

Question 4

trends in primary industry

Answer 4

milk quotas- abolished by EU so expected to increase production
fishing quotas- prevent overfishing
diversification- organic farming, farmhouse holidays, forestry as income from traditional farming decreases
climate change- vulnerable to extreme weather conditions, big issue for future

Question 5

secondary sector

Answer 5

manufacturing and construction
takes output from the primary sector and makes it into different finished product
transnational firms
indigenous firms
agri business

Question 6

construction

Answer 6

importance:
use of irish resources
employment
trends:
economic fluctuations- eg 2008 recession
government projects -billions allocated to national children's hospital, motorways

Question 7

manufacturing

Answer 7

importance:
food and drink production
chemicals and pharmaceuticals
employment + spin offs
trends:
capital intensive - use of technology means output increasing but employment decreasing
high labour and other costs - makes irish firms less competitive, move to low cost economies
transnational manufacturing -setting up in ireland to have access to EU market

Question 8

agribusiness

Answer 8

importance:
key in ireland
buys most from irish businesses and exports 50%
trends:
PLCs - agri co-ops convert to PLCs to raise equity on stock market for expansion
increased competition - Aldi and Lidl

Question 9

tertiary sector

Answer 9

all businesses that provide a service to customers and other businesses
do not produce a physical product
eg accounting, legal advice, distribution

Question 10

importance of tertiary sector

Answer 10

employment
tourism
exports
TNCs - well known services sector attracts TNCs, who look for good transport and communication services

Question 11

trends in tertiary sector

Answer 11

tourism - devastated by covid, increased domestic tourism
decreased footfall in town centres - online shopping and closures
financial services - thriving, half of worlds top 50 banks here, top 20 insurance companies