Main Sectors In Economy Flashcards
What does the tertiary sector provide?
Essential services
What is a major challenge for the primary sector?
Reliance on CAP payments
What does the Primary Sector involve?
Extracting and harvesting natural resources, such as agriculture, forestry, fishing, and mining.
What does the Secondary Sector focus on?
Manufacturing and industrial processes, transforming raw materials into finished goods.
What does the Tertiary Sector include?
Services such as retail, transportation, financial services, healthcare, education, and tourism.
What percentage of jobs in Ireland are in the Primary Sector?
0.05
What percentage of jobs in Ireland are in the Secondary Sector?
0.19
What percentage of jobs in Ireland are in the Tertiary Sector?
0.75
What is one trend in the Primary Sector in Ireland?
Growth in veganism leading to lower beef demand.
What is one challenge facing the Secondary Sector?
Labour shortages due to increased construction jobs.
What is one trend in the Secondary Sector?
Companies like Intel are setting up factories in Ireland due to low barriers to entry and favourable tax policies.
What is one trend in the Tertiary Sector?
Significant growth in online retail, with companies like Amazon.
What is a challenge for the Tertiary Sector in Ireland?
Rising wage costs due to increases in the minimum wage, especially hurting the hospitality industry.