THREE SECTORS OF PRODUCTION 1. Primary Sector It extracts raw materials from the natural environments. Workers, like farmers or miners, fit well in the job description within the primary sector. 2. Secondary Sector It gains raw materials and transforms them into manufactured goods. Someone from the primary sector extracts oil from the earth, then, someone from the secondary sector refines the petroleum to gasoline. 3. Tertiary Sector It involves services rather than goods. It offers services by doing things rather than making things. MARKET INTEGRATION Economic systems vary from one society to another. But in any given economy, production typically splits into three (3) sectors. This economic system is more complicated, or at least, more sophisticated than the way things used to be for much of human history. This will show the contributions of different financial and economic institutions that facilitated the growth of the global economy. THREE SECTORS OF PRODUCTION 1. Primary Sector It extracts raw materials from the natural environments. Workers, like farmers or miners, fit well in the job description within the primary sector. 2. Secondary Sector It gains raw materials and transforms them into manufactured goods. Someone from the primary sector extracts oil from the earth, then, someone from the secondary sector refines the petroleum to gasoline.
THREE SECTORS OF PRODUCTION 1. Primary Sector It extracts raw materials from the natural environments. Workers, like farmers or miners, fit well in the job description within the primary sector. 2. Secondary Sector It gains raw materials and transforms them into manufactured goods. Someone from the primary sector extracts oil from the earth, then, someone from the secondary sector refines the petroleum to gasoline. 3. Tertiary Sector It involves services rather than goods. It offers services by doing things rather than making things. MARKET INTEGRATION Economic systems vary from one society to another. But in any given economy, production typically splits into three (3) sectors. This economic system is more complicated, or at least, more sophisticated than the way things used to be for much of human history. This will show the contributions of different financial and economic institutions that facilitated the growth of the global economy. THREE SECTORS OF PRODUCTION 1. Primary Sector It extracts raw materials from the natural environments. Workers, like farmers or miners, fit well in the job description within the primary sector. 2. Secondary Sector It gains raw materials and transforms them into manufactured goods. Someone from the primary sector extracts oil from the earth, then, someone from the secondary sector refines the petroleum to gasoline.
Chapter1: Introducing The Economic Way Of Thinking
Section: Chapter Questions
Problem 3SQP
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1. In Your Own Point of View.. Which is More Productive in the Three Sectors Of Production and Why....?
Transcribed Image Text:THREE SECTORS OF PRODUCTION
1. Primary Sector
It extracts raw materials from the natural environments. Workers, like farmers or
miners, fit well in the job description within the primary sector.
2. Secondary Sector
It gains raw materials and transforms them into manufactured goods. Someone
from the primary sector extracts oil from the earth, then, someone from the secondary
sector refines the petroleum to gasoline.
3. Tertiary Sector
It involves services rather than goods. It offers services by doing things rather
than making things.
Transcribed Image Text:MARKET INTEGRATION
Economic systems vary from one society to another. But in any given economy,
production typically splits into three (3) sectors. This economic system is more complicated, or
at least, more sophisticated than the way things used to be for much of human history.
This will show the contributions of different financial and economic institutions that
facilitated the growth of the global economy.
THREE SECTORS OF PRODUCTION
1. Primary Sector
It extracts raw materials from the natural environments. Workers, like farmers or
miners, fit well in the job description within the primary sector.
2. Secondary Sector
It gains raw materials and transforms them into manufactured goods. Someone
from the primary sector extracts oil from the earth, then, someone from the secondary
sector refines the petroleum to gasoline.
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