Chapter Four

Preparing For the Future

· Economists categorize the  kinds of work people do into 4 main sectors:

1)primary

2)secondary

3)tertiary

4)quaternary

Primary

· This is work involving harvesting or extracting natural resources

· For thousands of years, this was the main type of work

· Technology has changed the primary sector as well as the number of  people working in the primary sector.

· Examples: farming, fishing, forestry, mining

Secondary

· Work in this sector is mostly construction or manufacturing

· Construction involves building things such as homes, bridges, and offices

· Manufacturing involves turning raw materials into useful products

·Some companies make products you can then buy in the store, such as packages food furniture and clothing. Other companies produce goods that they sell to other companies.

Tertiary

· People working in this sector provide services to people.

·Examples are sales people, bus drivers, actors, teachers, government workers, and services such as electricity.

· Any others???

Quaternary

· This is a more recent sector

· It involves working with ideas and information technology.

· Examples include working in laboratories to research new ideas and products as well as working with communication and information technologies to create, store and transmit information electronically.

Activity

In exercise put down these three headings and put down these four headings and put the following jobs in the correct heading:

Primary      Secondary          Tertiary       Quaternary

TV repair / Nurses /Town of CBS plow operator/

Making paper/ Cattle farmer/ Oil rig worker/ Baker

Working in a bank /Workers testing snowboard materials/ Light and Power working/ Video game designer

Diversified Economies

· An economic system that has a good balance of jobs in all sectors is called a diversified economy.

· A diversified economy usually has most jobs in the tertiary sector and the quaternary sectors. Some jobs are in the secondary and the fewest jobs in the primary sector.

· Think It Through Activity –use bar graphs

Statistics

· Statistics are information in the form of numbers.

· There are a number of different ways in which stats can b presented.

1) Circle graphs –good for showing what parts of a whole something is. When you show %, then the percents in the circle must add up to 100%

2) Line graphs: these are good for showing how something changes over time.



3) Bar Graphs: good for comparing 2 or more sets of statistics.

4. Pictograph: Also used for comparisons but makes it more interesting by using pictures or symbols.