Chapter 11: The Atlantic Economy

1. Chapter 11: The Atlantic Economy

2. Chapter 11: The Atlantic Economy pp. 156 - 157 • Primary Industry: activities in which people use, extract, or harvest natural resources – (fishing, mining, forestry, agriculture, quarrying.) The products are only slightly altered before being used. • Secondary Industry: processing of raw materials into finished goods. These materials are substantially different from the original materials and are worth more – value added. (manufacturing and construction)

3. Chapter 11: The Atlantic Economy • Tertiary Industry: enable consumers to obtain and use finished goods. Workers in the tertiary industries provide services rather than goods. ( sales, repairs, banking, and insurance.) • Quaternary Industry: involves specialized technology. Usually provide services rather than goods, and are often grouped with tertiary industries. (research scientists, computer software designers.)

4. Chapter 11: The Atlantic Economy • Value added: the increase in value of a product once it has been processed by the secondary industry. • Questions: • Which industry is Atlantic Canada most dependent? Why? • Which sectors do you expect to grow? Which do you expect to decline? Why?

5. Chapter 11: The Atlantic Economy • Which sector do each of the following belong? • Manufacture of CD-ROMs • Web site design • Hotel business • Fish farming • Teaching • Manufacture of tissue • Computer software design

6. Chapter 11: The Atlantic Economy • Read pp. 156 – 158 Answer #1 p. 158

7. Chapter 11: The Atlantic Economy

8. Chapter 11: The Atlantic Economy pp. 159 - 161 • Primary Industry: • Natural resources – materials found in the natural environment that can satisfy human needs and wants • It is a resource only if three conditions are met • 1) society must feel it needs the material • 2) technology must be advanced enough to extract it • 3) it must be economical to extract and use it

9. Chapter 11: The Atlantic Economy pp. 162 - 163 • Aquaculture – fish farming • Answer question #1 & #2 p. 163. • Secondary Industry: • Potato Chips • Secondary industries include manufacturing and construction.

10. Chapter 11: The Atlantic Economy pp. 169 - 174 • First-stage manufacturing: processing raw materials • Second-stage manufacturing: using processed materials to make finished products • Answer: What is diversification? • List 7 reasons explaining why an industry will choose a specific location.

11. Chapter 11: The Atlantic Economy pp. 174 - 178 • The new economy: In the main industries, old economy involved work that was resource based. New economy involves work that is knowledge based. • In the labor force, old economy was based on manual labor, new economy is based on information processors. • As a result of new economy, education has become more advanced than in the days of the old economy.

12. Chapter 11: The Atlantic Economy • Activity: Track job advertisements in the newspaper over a week and record the number of jobs advertised and qualifications required in each of the four sectors. Share results. • What can you deduct from this information?

13. Chapter 11: The Atlantic Economy • Test Review: • List the four sectors of our economy, and explain what is involved with each. • Explain the “new economy” and provide 5 examples compared to the old economy. • Explain: natural resources, aquaculture, crop rotation, and diversification. • Be able to complete sector chart.