- Created by: EReynolds
- Created on: 12-06-15 21:11
The first stage of the production process is called the primary production. Businesses in this sector are involved with raw materials.
This sector includes fishing, farming and forestry as well as mining, quarrying, drilling.
It includes any businesses which takes a material in its natural state and turns it into a 'resource' that can be used in the production process.
The secondary stage of the production process is called secondary production. Business in this sector are involved with taking the raw materials or component parts and turning them into finshed or part finished goods.
It therefore involves procedures such as refining, processing and manufacturing.
The third stage of the process is called the tertiary production. Businesses in this sector are service providers. Services are needed not just in the final stages but throughout the chain of production to support primary and secondary industry.
Insurance banking, communications and other support services are all part of the tertiary sector (along with direct services such as transport and retailing)
The stage of development a country has reached..
The stage of developmet that a country has reached is sometimes stated in terms if its main types of industry. The UK is considered as developed economy. It has a very large service sector, a shrinking manufacturing (secondary) sector and a relatively small primary sector.
This could be a problem as the UK has to reply on importing raw materials and even energy. It is not a problems as long as the service sector is earning enough money to pay for it.