Econ #3.docx - Econ#3 Fab 4 Economic Sectors 4 different economic sectors o Primary Extracting or harvesting natural resources Farming fishing logging

Econ #3.docx - Econ#3 Fab 4 Economic Sectors 4 different...

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Econ #3 Fab 4 Economic Sectors 4 different economic sectors o Primary Extracting or harvesting natural resources Farming, fishing, logging, mining, oil, copper, iron, fossil fuels This raw stuff is not worth much until you do something to it Refine it o Secondary Processing and manufacturing Refining raw commodities or making stuff Adding value to raw goods Oranges to orange juice Coffee beans Fish to filet Pineapple cut up Log into 2x4s Iron ore to steel Raw oil to gasoline/plastics Makes up all the stuff people buy and use o Tertiary Service Sector Services that may use things from the primary and secondary sectors, but they use it to provide a service, making things more valuable Contractor builds house for you with raw commodities or manufactured goods which is a service Services increase the value Sales at the mall Restaurant Tradesmen
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