Econ Quiz #3 - Econ Quiz#3 Primary Economic Sector Extracting or Harvesting natural resources Manipulated the earth somehow Ex Farming Livestock

Econ Quiz #3 - Econ Quiz#3 Primary Economic Sector...

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Econ Quiz #3 Primary Economic Sector Extracting or Harvesting natural resources Manipulated the earth somehow. Ex. Farming Livestock Foresting Mining Oil Coal All metals, all minerals. That raw stuff aint worth much, not unless you do something to it. Raw commodities aren't worth that much. Low valued, until you do something to it like refine it. Secondary Economic sector Processing and manufacturing sector. Making stuff”: Oranges → Orange juice Simple refining Roasting coffee beans. Fish to file Log→ 2x4 Iron Or → steel Raw oil → gasoline Manufacturing sector: Some raw materials to some refined oils. Rubber & leather lace → shoes Rubber→ tires Adding value to raw goods. Makes up all the stuff Electronics Cars Chemicals Washing Machines. Tertiary Economic Sector: Service Sector Services that use things from the primary and secondary sector plus an added sector. Ex. Contractor, arranges all the 2x4s and other materials to be put together to make a house. Adds a HUGE value. Services increase the value of everything. Most of us have worked in.
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Sales, Restaurant, Tradesman, carpenter, mason, lawyers, real estate, police, military, Airline pilots, transportation industry.
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  • Spring '08
  • SXiao
  • Economic Sector, Primary Economic Sector

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