Economy Segments
Economy Segments (hereinafter, the Lectio) is the second lesson part of the Industries and Specialties lesson that introduces its participants to industries, professional specialties, and related topics.
This lesson belongs to the Introduction to Employment session of EmployableU Concepts.
Content
The predecessor lectio is What Economy Is.
Script
- Various segments of the national or international economy may be classified in numerous ways. Two of conventional classifications use the same term, sector, for their economy segments.
- Depending on their ownership, enterprises can be divided in the public, private, and nonprofit sectors.
- Depending on types of produced market exchangeables, enterprises can be divided in stages of when the segment was historically launched.
- The primary sector or the primary stage of the economy is the raw materials industry that extract from nature, renew, and pre-process those raw materials or substances such as agriculture and mining products that the manufacturing industry will further process to create those goods and services that can be eventually consumed by end-users.
- The secondary sector groups those enterprises that manufacture physical goods to be eventually consumed by end-users.
- The tertiary sector groups those enterprises that produce physical, non-digital services such as retail, tourism, traditional banking, entertainment, etc.
- The quaternary sector may unite the information technology industry and those those enterprises that do research and design new products.
- No one classification is ideal. On the one hand, some can argue that the humanity historically launched the nonprofit sector first, followed by the public sector with the rise of royal states, and, eventually, the private sector. On another hand, one enterprise may produce a variety of products that may belong to different types. The concept of industries has been created to classify enterprises, and, therefore, employers, more specifically.
Key terms
Closing
- Among the primary, secondary, tertiary, or quaternary sectors of the economy, do you target any particular one for your future work? --Yes/No/Let's move on for now
What Industry Is is the successor lectio.
