The economic infrastructure SECTORS OF THE ECONOMY The economic infrastructure

ECONOMY IS THE SYSTEM BY WHICH WEALTH IS PRODUCED AND USED MONEY, INDUSTRY AND TRADE ARE ORGANISED GOODS AND SERVICES ARE PRODUCED AND USED

THE PRIMARY SECTOR Raw materials (natural resources) 1. Extracted (mining, quarrying) 2. Grown (forestry, farming, breeding animals) 3. Collected (fishing)

THE SECONDARY SECTOR Manufacturing (turning raw materials into finished goods) Capital goods Consumer goods Building and construction

(welding equipment, delivery vans) 1. CAPITAL GOODS help make other goods help provide services (welding equipment, delivery vans)

Straight to the final consumer Consumables – get used up 2. CONSUMER GOODS Straight to the final consumer Consumables – get used up (pencils, cans) Consumer durables – last longer (TV, cars, fridges)

3. BUILDING AND CONSTRUCTION UTILITIES (water supply, gas, electricity)

THE TERTIARY or SERVICE SECTOR Services for: Businesses (distribution of goods, warehousing, advertising) Consumers (hairdressing, restaurants) Businesses + consumers (banking, insurance, communication, post)

The commercial services help industry produce and distribute goods to end users Tourism Education Healthcare Banking Retail and Wholesale Leisure

THE QUATERNARY SECTOR Information services – computing, ICT Consultancy R&D (scientific fields) The news media Libraries Universities / colleges Culture in general

WHICH SECTOR DO THEY WORK IN? business consultant_________________________ doctor________________________________________ waiter________________________________________ farmer_______________________________________ shipbuilder _________________________________ fisherman__________________________________ blue-collar worker ________________________ real estate agent__________________________ HW: RB: p 16 MK: p 45

RB: p.15 J.K.GALBRAITH: Decline of manufacturing Finish the expressions mentioned in the text and make a paragraph on the loss of manufacturing industry ___________ industrial countries ___________ developments ___________ industry big cities live on _________ and ________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

ADD VERBS IN THE CORRECT FORM TO THE FOLLOWING SENTENCES: Raw materials are ________________from the ground, grown or ____________________, and then either __________________or ______________into finished goods. Before finished goods are sold they often have to be __________________ and _____________. RB: p.14 Why does manufacturing gravitate to the East? Manufacturing jobs decline in the West. What are the consequences?

This video will help you to summarize the changes: RB: pp.15 answer the questions. Watch the videos and summarize the changes in the three sectors of the economy. http://www.youtube.com/watch?v=WgvAy0YX3lE http://www.youtube.com/watch?v=whAlgi9EzRc&feature=related This video will help you to summarize the changes: Writing Skills: The Paragraph http://www.youtube.com/watch?v=0IFDuhdB2Hk