Main Sectors In Economy Flashcards

1
Q

What does the tertiary sector provide?

A

Essential services

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2
Q

What is a major challenge for the primary sector?

A

Reliance on CAP payments

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3
Q

What does the Primary Sector involve?

A

Extracting and harvesting natural resources, such as agriculture, forestry, fishing, and mining.

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4
Q

What does the Secondary Sector focus on?

A

Manufacturing and industrial processes, transforming raw materials into finished goods.

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5
Q

What does the Tertiary Sector include?

A

Services such as retail, transportation, financial services, healthcare, education, and tourism.

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6
Q

What percentage of jobs in Ireland are in the Primary Sector?

A

0.05

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7
Q

What percentage of jobs in Ireland are in the Secondary Sector?

A

0.19

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8
Q

What percentage of jobs in Ireland are in the Tertiary Sector?

A

0.75

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9
Q

What is one trend in the Primary Sector in Ireland?

A

Growth in veganism leading to lower beef demand.

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10
Q

What is one challenge facing the Secondary Sector?

A

Labour shortages due to increased construction jobs.

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11
Q

What is one trend in the Secondary Sector?

A

Companies like Intel are setting up factories in Ireland due to low barriers to entry and favourable tax policies.

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12
Q

What is one trend in the Tertiary Sector?

A

Significant growth in online retail, with companies like Amazon.

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13
Q

What is a challenge for the Tertiary Sector in Ireland?

A

Rising wage costs due to increases in the minimum wage, especially hurting the hospitality industry.

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