Sectors of Industry Flashcards
1
Q
What is creating wealth?
A
Adding value to a product at each stage of production
2
Q
What are examples of creating wealth?
A
Branding, quality and USP
3
Q
What are the sectors of industry?
A
- Primary
- Secondary
- Tertiary
- Quaternary
4
Q
What is the Primary sector of industry?
A
This is where gathering natural resources to obtain the raw materials
5
Q
Primary sector examples:
A
Mining and fishing
6
Q
What is the Secondary sector of industry?
A
Manufacturing of the raw materials into goods
7
Q
Secondary sector examples:
A
Electronics, cars and houses
8
Q
What is the Tertiary sector of industry?
A
This involves services rather than goods
9
Q
Tertiary sector examples:
A
Schools and hospitals
10
Q
What is the Quaternary sector of industry?
A
Providing information and knowledge based services
11
Q
Quaternary sector examples:
A
Consultants, accountants and lawyers
