INDUSTRIALIZATION WHAT ARE THE DIFFERENT TYPES OF INDUSTRIES

INDUSTRIALIZATION WHAT ARE THE DIFFERENT TYPES OF INDUSTRIES?

Primary Industries • Involves taking resources from the land (extractive) • Examples: mining; agriculture; fishing; hunting and gathering; lumbering and forestry

Secondary Industries • Involves processing resources into goods/finished products • Examples: include light industry—textiles; food processing; small appliances

Tertiary Industries • Economic services; facilitate commerce and trade • Examples: selling the goods produced; banking; health care; tourist industry; routine office-based jobs; retailing

Types of Tertiary Industries • QUATERNARY INDUSTRIES – Service industries concerned with the collection, processing, and manipulation of information and capital • • Finance Administration Insurance Legal services • QUINARY INDUSTRIES – Part of the service sector that requires a high level of specialized knowledge or technical skill • Scientific research • High level management

What are the differences between heavy industry and high tech industry? • Both are secondary industries. • However, heavy industry uses a fairly simple process and much energy and/or raw materials to make a general product such as iron, gasoline, glass, or cloth. • High-tech industry uses a more complicated process and much skilled labor and/or machinery to make a sophisticated product such as a computer, laser, or composite plastic.

How do telecommunications and other high-tech firms decide where to locate? • Distance to raw materials or markets is less important than for steel or other heavy products. • It is more important to have skilled workers (e. g. science and engineering) and related businesses nearby. • Hi-tech industries depend on innovation. Much scientific research in the U. S. takes place at large universities. • Places with large amounts of both research time and venture capital are better for a new high-tech company than places without those advantages. • Favorable taxes and regulations are also preferred by high tech companies.

High Tech or Heavy Industry? • • A loaf of bread Television set Cotton towel Plastic car fender Polyester sleeping bag Piece of lumber Camera lens