Economic Change Flashcards
What are the four economic sectors?
Primary Industry
Secondary Industry
Tertiary Industry
Quaternary Industry
What is the Primary Industry?
Extracting natural resourses e.g. mining, fishing
What is the Secondary Industry?
Manufacturing - raw material are made into a product e.g. car factory worker
What is the Tertiary Industry?
When you provide a service e.g. teacher, shopworker
What is the Quaternary Industry?
Hi-tech research and development e.g. web designer, scientist
What is the model that shows economic shifts?
Clark - fisher model (of economic shifts over time)
What does the Clark - fisher model show in its pattern?
The industrial phase(1850 A.D)
Post industrial (1950 A.D)
Shows there is a decline in primary industry
Increase then decrease in secondary industry(industrial phase)
A gradual rise in tertiary industry
Quaternary is very recent
Why has the primary industry declined?(UK)
> increase in machinery (mechanisation)
raw materials and labor cheaper in LEDC’s
more pay in other sectors
products are imported from other counties (cheaper)
depletion of resources
world is more inter-connected
Why has the secondary industry declined? (UK)
>mechanisation >cheaper to import goods >growth of TNC's (trans-national-companies) >global super-highway (internet) >fewer regulations (working conditions >fast,efficient,cheap transport >globalisation
Explain the growth of China’s secondary sector
PHYSICAL FACTORS:
Raw materials - wealth of natural resources
Location - borders developing markets; on major trade routes
HUMAN FACTORS:
Workforce - plentiful supply of workers, lowest paid
Government policy - foreign countries have factories
Education - large number of skilled workers, high literacy
Energy - hydroelectric and nuclear power stations
Globalisation - easy to export goods, good transport
Why has the tertiary sector grown?
>rise in demand of services - disposable income >development of new technology >decrease in other sectors >Demographic reasons: cultural change, ageing population
What are the economic location factors?
Labour supply, Accessibility, Raw materials, Distance to market, Government incentives, Power supply
Case study - a company that moved business to another country
Berwin and Berwin Set up in Leeds 1885 Opened new factory in Chins - 2006 Headquaters still in Leeds Workers earn 1/4 of UK minimum wage - quality of work is better as well Increased profit
