Take it, make it, sell it

Untitled Slide

Primary sector... take it

The primary sector involves the harvest or extraction of natural resources

Examples

• Farming
• Fishing
• Forestry
• Oil extraction
• Mining

Secondary sector... make it

The secondary sector involves manufacturing goods... processing the raw materials

Examples

• Manufacturing
• Construction
• Utilities (e.g. electricity)

Tertiary sector... sell it

The tertiary sector is involved with providing services to consumers and other businesses

Examples

• Retail
• Banking
• Transportation
• Insurance
• Hospitality
• Consumer services, e.g. hairdressing

Quaternary sector... think it

The quaternary sector is a way to describe the knowledge based portion of the tertiary sector

Examples

• Research and development
• Information technology
• Education
• Financial planning
• Media

Chain of production

Products move through the three sectors of industry before being sold to the consumer – this is called the chain of production.

T-shirt

• Primary: cotton is grown and harvested Secondary: Transformed into cloth and sewn into a T-shirt
• Tertiary:T-shirts sold in shops
• (Quartenary: Research carried out to improve cotton yield/processing etc)

Interdependence: the sectors are all dependent on each other, i.e they rely on each other for inputs or to distribute their outputs or to provide business services.

At each stage in the chain of production value is added to the product.