Sectors Of The Economy Flashcards
What are the 3 sectors of the economy?
Primary, secondary and tertiary
Secondary
Manufacturing
Tertiary
Services sector eg. Tourism, banking etc
Why is the primary sector in low proportion in the uk?
Machinery has taken over, cheaper to get raw materials abroad
Why is the proportion of the people in the secondary sector in the uk falling?
Improved technology and robots taking over
Why is the tertiary sector the Mao growth area in the uk?
Greater demand for leisure services, due to higher incomes, new tastes etc
What are the 4 factors of production?
Land
Labour
Capital
Enterprise
Land?
Anything from land ie. Raw materials
Labour?
The employees needed
Capital?
Technology and machinery needed
Enterprise?
Bright new ideas
Primary
Raw materials eg. Farming, coal miners etc
