Categories of Industry(Complete) Flashcards
What is the primary industry/ sector?
It is a category of industry based on the natural resources of a country.
Give 5 examples of the primary industry.
Agriculture Forestry Fishing Mining Energy
What are the main reasons for the agricultural decline in Ireland?
Increased mechanisation
Change in EU supports policy
More attractive job options, e.g. a 9-5 job with a weekly wage
Describe the current trends in the primary sector.
Commodities such as beef and milk are commanding higher prices on world markets as demand is increasing due to global population growth.
As a result of overfishing, the EU has introduced fish quotas in an attempt to conserve fish stocks.
Continued growth in organic food production capitalising on Ireland’s green image.
Wind energy and solar power developments.
What is the secondary industry?
These industries transform raw materials into finished goods.
Give 3 examples of secondary industry.
Manufacturing
Agribusiness
Construction
Give an example of a company in the secondary sector.
Glanbia- Food Products
Name 3 secondary industries where Irish businesses are successful.
Food Processing
Computers, e.g. DELL
Building materials
Describe the current trends in the secondary sector.
The decline in employment in the secondary sector as closures have resulted in an increase in unemployment.
Increased competition from abroad- foreign retailers challenge the agribusiness sector. e.g Lidl
Increased wage rates in Ireland over the past few years has resulted in a loss of competitiveness- relocation of some manufacturing businesses to low-cost economies.
What is the services sector?
Produces non-physical goods, more precisely services.
Give 3 examples of the services sector/ tertiary industry.
Banking
Accounting
Insurance
What did the growth of ICT influence?
ATMs
Internet Banking
Telephone Banking
Barcodes for stock control
Describe the current trends in the tertiary sector.
Access to technology/e-commerce:
Poor access to broadband especially in rural areas.
Poor use of websites for selling to consumers.
Commercial Rates:
Commercial rates charged to businesses by local authorities.
They have placed a huge amount of pressure on small, local retailers as they try to compete with larger retailers.
Brexit/uncertainty:
The uncertainty caused by the UK’s exit from the EU will have a negative impact on the exporting of goods and services.
Rents:
The increase in the cost of rental accommodation in cities such as Dublin will cause employees to lodge claims for higher wages.
This reduces the profits of service firms and makes it more difficult for them to remain competitive.
