Unit 7 Flashcards
Industry
Any economic activity using machinery on large scale to process raw materials into products
Raw materials
Any metal, wood or other plants, animal products, or other substances that are used to make intermediate or finished goods
Industrial revolution
The radical change in manufacturing that included increased mechanization that began in Great Britain in the mid 18th century
Cottage industries
Pre-industrial form of agriculture in which members of families spread out through rural areas worked in their homes to make goods
Primary sector
Economic sector associated with removing and harvesting products form the Earth
Secondary sector
Economic sector associated with the production of goods from raw materials. Includes manufacturing, processing, and construction
Tertiary/service sector
Economic sector that includes a host of activities including transport, storage, and marketing, and selling goods and services
Quaternary sector
Economic sector that is a subset of tertiary sector that requires workers to process and handle information and environmental technology
Quinary sector
Economic sector that is a subset of quaternary sector. Involves the top leaders in government, science, universities, nonprofits, healthcare, culture, and media.