Economic activity may be classified into various categories, according to purpose.

When considering business ownership the classifications public & private are typically used.

Also classified according to what type of economic good is produced. (primary, secondary, tertiary, quaternary)

usually composed of organizations that are privately owned and not part of the government.

corporations (both profit and non-profit), partnerships, and charities.

retail stores, credit unions, & local businesses will operate in the private sector.

composed of organizations that are owned and operated by the government (federal, provincial, or municipal governments, depending on where you live).

educational bodies, health care bodies, police and prison services, and local and central government bodies and their departments

When looking at what is actually produced for us, it is important to distinguish between the main types of industries

PrimarySecondaryTertiaryQuaternary

This involves the extraction or harvesting of resources directly from the Earth

Includes the production of raw material and basic foods.

Examples include farming, mining and logging. (They do not process the products at all rather send it off to factories to make a profit).

Hibernia offshore oilFishery (Traditional)

Voisey’s Bay Nickel Mine

CBP&P/ various sawmills

This group is involved in the processing of finished products from primary industries

All of manufacturing, processing, and construction lies within this sector

This includes all factories—those that refine metals, produce furniture, or pack farm products such as meat.

Country Ribbon Chicken Fish Processing Plants

North Atlantic Refinery (Come by Chance)Vale Nickel Smelter (Long Harbour)

Made Right Here….

NTV series hosted by Danielle Butt which provides brief profiles of local manufacturing companies and the products that they produce

http://ntv.ca/?cat=26

Known as the service industryprovides services to the general

population & to businesses In 2005, over 75% of Canadians

worked hereExamples include retail/wholesale

sales, entertainment, education, health care, tourism, garages,

Is service based like the tertiary sector, but it entails the use of high technology to produce, retrieve, store and distribute information.

Research & Development (R&D) Using computers to develop information-

processing software. Using computers to analyze city traffic

flows to provide information on suitable locations for new businesses.

Hibernia invests12 million in MUN

simulators for survival craft

ROV tech/applications

http://video.about.com/geography/What-is-an-Economic-Sector.htm

We have been introduced to the idea of a 5th sector – the Quinary Sector (branching from the quaternary) – however, for the purposes of this course, it will not be necessary to pursue this further than knowing it is recognized.

The 4 Sectors of Industry are interrelated. An individual industry will often use more than one sector in order to produce products.

On the next slide we will see an example of how the four sectors relate together in the production of cotton clothes, part of the fashion industry.

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PRIMARYCotton is grown and picked on a cotton

farm

COTTON IN THE FASHION INDUSTRY...

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PRIMARY

SECONDARYCotton is grown and picked on a cotton

farmCotton is processed to cloth, which is, in turn,

sewn in to clothing.

COTTON IN THE FASHION INDUSTRY...

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PRIMARY

SECONDARY TERTIARY

Cotton is grown and picked on a cotton

farmCotton is processed to cloth, which is, in turn,

sewn in to clothing.

Cotton clothes (eg jeans, shirts etc) are sold in high street

shops.

COTTON IN THE FASHION INDUSTRY...

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PRIMARY

SECONDARY TERTIARY

QUATERNARY: Research is carried out in to new ways of

processing or growing cotton. e.g. organic cotton.

Cotton is grown and picked on a cotton

farmCotton is processed to cloth, which is, in turn,

sewn in to clothing.

Cotton clothes (eg jeans, shirts etc) are sold in high street

shops.

COTTON IN THE FASHION INDUSTRY...

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The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial

sector...

Models and fashion shows: tertiary.

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The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial

sector...

Models and fashion shows: tertiary.

Leather manufacture in a tannery: secondary

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The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial

sector...

Models and fashion shows: tertiary.

Leather manufacture in a tannery: secondary

A shoe factory in hanoi: secondary

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The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial

sector...

Models and fashion shows: tertiary.

Leather manufacture in a tannery: secondary

A shoe factory in hanoi: secondary

Sheep farming and sheering

for wool production:

primary

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The entire fashion industry involves a great number of different products and services, all of which can be classified according to industrial

sector...

Models and fashion shows: tertiary.

Leather manufacture in a tannery: secondary

A shoe factory in hanoi: secondary

Sheep farming and sheering

for wool production:

primaryCosmetics research:

quaternary

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