Economic Sectors and Patterns

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9 Terms

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What is development

The process of improving the material conditions of people through the diffusion of knowledge and technology

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MDC’s

More Developed Countries

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LDC’s

Less Developed Countries

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Primary Economic Activities

Extraction of raw materials and natural resources from the earth’s surface

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Secondary Economic Activities

Processing and manufacturing raw materials into a finished product

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Tertiary Economic Activities

Service sector that focuses on moving, selling, and trading products in primary and secondary sectors

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Quaternary Economic Sector

Sector knowledge based sector, focusing on research and information creation and transfer

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Quinary Economic Sector

Highest level of decision making, includes top officials in government and business

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As a country becomes more developed the primary sector ____

decreases