6h. Sectors of the Economy

The economy is divided into different areas which are called….

sectors

What does each sector represent

A part of the economy that focuses on a specific type of activity.

What is the primary sector?

Include:

• What the sector involves

• Examples of workers in this sector

• What does this sector produce

This sector involves natural resource extraction or harvesting directly from the Earth.

Workers in this sector, like farmers, fishers and quarry workers, use the environment to produce raw materials like fruits, vegetables, fish and stone.

What is the secondary sector?

Include:

• What the sector focuses on

• What this sector produces/does

• Examples of this sector

• Workers in this sector

• This sector focuses on manufacturing and processing.

• Here raw materials from the primary sector are transformed into finished products, e.g. turning iron into steel, wheat into flour.

• Examples of this sector: Factories that produce toys, cars, clothes, medicine

• Workers in this industry: industrial workers, manufacturers

What is the tertiary sector?

Include:

• What the sector provides

• Examples of this sector

• Workers in this sector

• This sector provides services rather than goods

• Examples: restaurants, schools, hospitals and retail services.

• Workers in this sector: people who provide services (like the people who work in restaurants)

What is the quaternary sector?

Include:

• What it involves

• What it includes

• Examples of this sector

• Workers in this sector

• This sector involves services that focus on knowledge, research and processing information.

It includes:

• Education beyond the basics (like universities)

• Research and development

• Financial planning

• Other knowledge based services

Examples of the sector: Research labs, universities, IT companies, financial consulting firms

Workers in the sector: Scientists, professors, financial analytics, IT ppl

What is the quinary sector?

Include:

• What this sector includes

• Examples of jobs in this sector

• This sector includes jobs that focus on human services (jobs that focus on improving people’s well beings like hospital administrators) and high-level decision making.

• It covers top business leaders, CEO’s, policymakers, nonprofit organizers, university presidents, government officials

The sectors are interrelated

Summarize how each sector is interrelated:

1. Produces raw materials

2. Uses these raw materials and turns them into finished products

3. Sell the finished products produced

4. Supports other sectors by improving processes through research, development and financial advice.

5. Make decisions that help shape the future of all other sectors (eg laws that affect how businesses operate and how resources are managed)

Why is it important for a country like Malta to have a diversified economy across all five sectors?

It's good because it keeps Malta's economy strong even if one type of job or business starts having problems. For example, if fewer tourists visit, other businesses like farming or technology can still keep the economy going.

How does the secondary sector depend on the primary sector? Give an example based on the Maltese economy.

The secondary sector depends on the primary sector for raw materials. For example, in Malta, the primary sector provides limestone, which is essential for the construction industry, part of the secondary sector. Without limestone from local quarries, the construction sector would struggle to build infrastructure.

Can you think of a job in the quinary sector and explain why it's important for society to develop?

A job in the quinary sector could be an infrastructure planner.

Infrastructure planners are crucial because they make strategic decisions about how land and resources are used, which affects everything from housing and transportation to parks and public spaces. Their work ensures that development meets the community's needs sustainably and fairly.

What could happen if only one area of Malta's economy is doing well while the others aren't?

If only one area is doing well, Malta could have problems if that area starts to do poorly. For example, if Malta only relied on tourism and suddenly not as many tourists came, it could mean less money for everyone. That's why its better to have many strong areas like technology, farming, and services.