Changes in Economic Structures

Topics: Tertiary sector of the economy, Three-sector hypothesis, Employment Pages: 2 (745 words) Published: March 27, 2013
Changes in economic Structures
Show knowledge of primary, secondary, tertiary
Changes in primary
Develop at least two points about why the primary sector has decreased in developed countries Explain advantages and disadvantages
Change in secondary
Develop at least two points about why the secondary has decreased in developed countries Explain Advantage/disadvantages
Changes in Tertiary
Develop two points about why the tertiary sector has increased Explain advantages/disadvantages (what’s good and bad about it) Conclusion
What’s going to happen in the long term?
What do you think the impacts of this have been overall?

Changes in economic Structures
Within the business industry there are 3 main sectors in which firms operate to, which is the primary secondary and tertiary sectors. Each of these sectors forms a chain of production which provides consumers with products and services. In the primary sector firms are involved in extracting raw materials from earth’s natural resources. This includes fishes being fished out of the ocean, rubbers being tapped from trees, and oil being drilled from the ground etc. Whilst as the secondary sector manufactures and assembles the raw materials collected from the primary sector to make a complete product. Examples are refining crude oil to turn into useful products such as gasoline, cooking uncooked food to serve in restaurants and turning copped wood into finished products such as chairs and tables etc. Finally in the tertiary sector firms focus on selling the refined and manufactured products/services to customers, for example selling finished chairs in a furniture shop, refilling gas tanks in a petrol station, selling diamonds to soon to be engaged couples etc. Over the past centuries we have seen many changes in the business industry including the decline of employment rate in the primary and secondary sector, and the employment boom in the tertiary sector. In the 1700’s 75% of the world’s...
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