4.1A classifying economic activity

• four economic sectors:

  • primary
  • secondary
  • tertiary
  • quaternary
• Primary sector = extracting raw materials from the environment e.g. agriculture or mining
• secondary sector = involves making things e.g. manufacturing
• tertiary = providing a service e.g. doctor
• quaternary = research and development e.g. IT or technology
• Regeneration = redeveloping former industrial areas or outdated housing to bring about social and economic change
• rebranding = ways in which a place is deliberately reinvented for economic reasons and then marked using its new identity to attract new investors
• clark fisher model

  
• types of employment:

  • full time
  • part time
  • temporary
  • permanent
  • employed
  • self employed
• full time = works at least 35 hours per week
• part time = works less than 35hours per week
• temporary = be as little as one day or as long as a few years, but you have a definite end date to your job
• permanent = no definite end date to you job
• employed = you work for another person/company
• self-employed = you run your own business and take responsibility for its success or failure