KINDS OF PRODUCTION TROPNIKOVA ALEXANDRA 5524 WHAT

KINDS OF PRODUCTION TROPNIKOVA ALEXANDRA 5524

WHAT IS IT «PRODUCTION» ? Production “ Production is the methods and procedures used to turn raw materials into an end product. This can then be distributed to the consumer to satisfy their needs or wants”

THREE TYPES OF PRODUCTION Primary industries Tertiary industries Secondary industries

CLARK'S SECTOR MODEL

PRIMARY INDUSTRY An industry involved in the extraction and collection of natural resources, such as copper and timber, as well as by activities such as farming and fishing. A company in a primary industry can also be involved in turning natural resources into products. Primary industry tends to make up a larger portion of the economy of developing countries than they do for developed countries.

SECONDARY INDUSTRY The industrial sector of an economy that is dominated by the manufacture of finished products. Unlike a primary industry, a secondary industry makes products that are more likely to be consumed by individuals. Examples of secondary industry divisions include automobile manufacturing, steel production and telecommunications.

TERTIARY INDUSTRY Voluntary or non-profit sector of an economy; described by Jim Joseph (President, Council On Foundations) as "an intermediary space between business and government where private energy can be deployed for public good. " Also called third sector.