- If no country can produce everything it needs it trades with another country as it is essential to do so.
- Prices should come down because there is so many different companies
Types of industry
- Primary Industry - extract raw materials from the land or sea
- Secondary Industry - people who change raw materials into real products to sell
- Tertiary Industry - provide a service
- Quarternary Industry - new ideas/reaserch
Clark Fisher Model
Pre-industrial stage- most people are employed in the primary industries
Industrial stage- most people are in the secondary industry and the tertiary sector begins to grow
Post-industrial stage- tertiary secotr replaces secondary industries imortance. and we see quaternary employment begin to develop
Low Income Countries (e.g Ethiopia)
Primary sector- dominates! 75% of Ethiopia's population work in agriculture. Most people work as subsistence farmers with little coommercial agriculture. Long hours and hard physical work.
Secondary sector- very small! mainly male employies who work in textile and leather factories
Tertiary sector - small! 15% of the population work in service industries (including tourism)
Newly industrialised countries (eg china)
primary sector - large in china it is the largest sector includes mining and farming
secondary sector - medium! in china this sector generates the most money. Both genders work in tough conditions for long hours. the wages are low but better than farming.
tertiary sector - as more people can earn more money they spend it on services. these have got very long hours but get better pay than the factories.
High income countries (e.g UK)
primary sector- this is very small. there is now machenisation which means that there are fewer workers.
secondary sector- small because manufactoring is often done globally by bigger companies (TNC's).
tertiary sector - it dominates because of new ways of workking such as working from home and self inployment.
quaternary sector- this is growing.
Impact of globalisation
- increase in…