Semester 2 Final Flashcards
Basic Industries
Industries that sell their products or services to consumers outside the community
Exports almost all of its production
Business services
Facilitate the activities of other businesses
Consumer services
Provide services to individuals consumers who desire them and can afford to pay for them
Economic base
A community’s unique collection of basic industries
Non-basic industries
Industries thy sell their products to consumers in the community
Personal services
Services that apply to personal needs
Primary Sector of the economy
Sector making use of natural resources
Producer services
Services that help people conduct business
Real estate
Public services
Provide security and protection for citizens and businesses
Quaternary Sector of the economy
Knowledge based parts of the economy
Retail services
Provide goods for sale to consumers
Secondary Sector of the economy
Production of goods
Industry
Tertiary sector of the economy
Services
Banks
Transportation and information services
Providing transportation and info to the public
Business service example
FedEx
Consumer service example
Education, health/social services
Non-basic industry example
Local grocery stores, other local businesses
Personal service example
Salon
Primary Sector example
Agriculture
Secondary Sector example
Building things, manufacturing
Tertiary Sector example
Retail services
Quaternary Sector example
Knowledgeable Sector, researching and development
Producer services are
1/6 of the jobs in the US