{"id":478,"date":"2024-05-30T09:52:44","date_gmt":"2024-05-30T08:52:44","guid":{"rendered":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/?page_id=478"},"modified":"2024-05-30T10:11:32","modified_gmt":"2024-05-30T09:11:32","slug":"478-2","status":"publish","type":"page","link":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/478-2\/","title":{"rendered":"Sectors of Industry"},"content":{"rendered":"

PRIMARY SECTOR<\/strong><\/span><\/h2>\n

Primary sector industries are responsible for extracting natural resources (land\/raw materials) which can be used by other organisations to produce goods and services.<\/p>\n

Examples of primary industries: oil exploration, mining, fishing, farming, forestry.<\/p>\n

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SECONDARY SECTOR<\/span><\/h2>\n

Secondary industries take the raw materials extracted in the primary sector and they use them to manufacture goods<\/p>\n

Examples –\u00a0 electrical goods, food, clothing etc. Construction is also a secondary industry \u2013 eg road building, house building.<\/p>\n

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TERTIARY SECTOR<\/span><\/h2>\n

Tertiary industries are service sector<\/strong> industries which distribute<\/strong> and sell<\/strong> finished goods manufactured in the secondary industry eg road haulage, retailing.<\/p>\n

Other examples of tertiary sector services include \u2013 gas, electricity, telephone, internet services, health, education, holidays, tourism etc.
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Wealth Creation \/ Value Added<\/strong><\/h2>\n
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  • Goods pass along a chain of production<\/strong>. Primary industries extract raw materials which secondary industries use to manufacture goods.\u00a0 Finished products pass to tertiary sector for distribution and selling.<\/li>\n
  • The wealth<\/strong> of a country is measured by the value of goods and services produced<\/strong>. More business activity means greater value of goods and services produced, and greater wealth of the country.<\/li>\n
  • As goods move to the next stage in a production chain, value will be added<\/strong>. The value added is the measure of increased wealth.<\/li>\n<\/ul>\n

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    PRIMARY SECTOR Primary sector industries are responsible for extracting natural resources (land\/raw materials) which can be used by other organisations to produce goods and services. Examples of primary industries: oil exploration, mining, fishing, farming, forestry. SECONDARY SECTOR Secondary industries take the raw materials extracted in the primary sector and they use them to manufacture goods […]<\/p>\n","protected":false},"author":79984,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-478","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/pages\/478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/users\/79984"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/comments?post=478"}],"version-history":[{"count":12,"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/pages\/478\/revisions"}],"predecessor-version":[{"id":492,"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/pages\/478\/revisions\/492"}],"wp:attachment":[{"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/media?parent=478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}