Podcast
Questions and Answers
What are activities connected directly to the earth through gathering, extracting, or growing raw materials?
What are activities connected directly to the earth through gathering, extracting, or growing raw materials?
- Tertiary activities
- Secondary industries
- Producer services
- Primary activities (correct)
What industries turn raw materials into products?
What industries turn raw materials into products?
Secondary industries
What part of the economy fulfills the exchange function and provides market availability of commodities?
What part of the economy fulfills the exchange function and provides market availability of commodities?
Tertiary activities
What did many MDCs experience in the late 20th and early 21st centuries?
What did many MDCs experience in the late 20th and early 21st centuries?
What has rising labor costs in MDCs and growth of transnational corporations produced?
What has rising labor costs in MDCs and growth of transnational corporations produced?
What are countries with advanced economies and a very high percentage of service jobs referred to as?
What are countries with advanced economies and a very high percentage of service jobs referred to as?
What percentage of the U.S. labor force in 2010 were tertiary, secondary, and primary workers respectively?
What percentage of the U.S. labor force in 2010 were tertiary, secondary, and primary workers respectively?
In which sector of the economy did virtually all job growth occur in the past two decades?
In which sector of the economy did virtually all job growth occur in the past two decades?
What does GDP stand for?
What does GDP stand for?
Do MDCs have a higher percentage of tertiary activities compared to LDCs?
Do MDCs have a higher percentage of tertiary activities compared to LDCs?
What are services performed by individuals called?
What are services performed by individuals called?
What are services performed for corporations and other businesses called?
What are services performed for corporations and other businesses called?
What two factors contribute to the growth in the health care industry?
What two factors contribute to the growth in the health care industry?
By definition, what activities are market-oriented?
By definition, what activities are market-oriented?
Why did department stores leave downtown areas?
Why did department stores leave downtown areas?
What is the world's largest industry in jobs and total value generated?
What is the world's largest industry in jobs and total value generated?
Approximately what percentage of the world's GDP is derived from travel and tourism?
Approximately what percentage of the world's GDP is derived from travel and tourism?
In what way has tourism become post-Fordist?
In what way has tourism become post-Fordist?
What is the major problem with most jobs from tourism?
What is the major problem with most jobs from tourism?
Do tourist destinations ever go out of style?
Do tourist destinations ever go out of style?
What form of tourism focuses on education, minimizing environmental impacts, and using locally owned services?
What form of tourism focuses on education, minimizing environmental impacts, and using locally owned services?
Is revenue from professional sports higher than from gambling?
Is revenue from professional sports higher than from gambling?
In what state is Atlantic City located?
In what state is Atlantic City located?
Which two countries is Monaco near?
Which two countries is Monaco near?
What country does Macau belong to?
What country does Macau belong to?
Around how many Indian casinos are there in the U.S.?
Around how many Indian casinos are there in the U.S.?
What activities are highly dependent on communication?
What activities are highly dependent on communication?
What types of tasks are typically involved in the front office?
What types of tasks are typically involved in the front office?
Where are back office activities most cost-effectively handled?
Where are back office activities most cost-effectively handled?
What have been the central elements in the internationalization of services?
What have been the central elements in the internationalization of services?
Which country has been particularly successful in attracting outsourced service sector jobs?
Which country has been particularly successful in attracting outsourced service sector jobs?
What does BPO mean?
What does BPO mean?
Study Notes
Primary, Secondary, and Tertiary Activities
- Primary activities involve gathering, extracting, or growing raw materials directly from the earth.
- Secondary industries transform raw materials into finished products.
- Tertiary activities encompass exchange functions, market availability of commodities, and connecting consumers with service providers.
Economic Shifts and Employment Trends
- Many more developed countries (MDCs) faced significant deindustrialization in the late 20th and early 21st centuries.
- Rising labor costs in MDCs, alongside transnational corporations' growth and outsourcing, led to a new international division of labor.
- In 2010, the U.S. labor force had 86% tertiary workers, 13% secondary workers, and 1% primary workers.
- All net job growth in the past two decades occurred in the services sector.
GDP and Service Industry
- GDP stands for gross domestic product, a key economic measure.
- MDCs typically feature a higher percentage of tertiary activities compared to less developed countries (LDCs).
Types of Services
- Consumer services are performed for individuals, while producer services are aimed at corporations and businesses.
- The healthcare industry's growth is propelled by rising incomes and an aging population.
- Services are inherently market-oriented activities.
Retail Trends and Tourism
- Department stores transitioned from downtown areas to suburban malls due to population movement.
- Tourism is the world's largest industry in terms of employment and total value generated, contributing approximately 9% to global GDP.
- Tourism has evolved to cater to fragmented consumer niches rather than mass production.
Challenges in Tourism
- Many jobs within the tourism sector are characterized as low-skill, low-wage, and can be exploitative.
- Tourist destinations can lose popularity over time, indicating that they do go out of style.
Specialized Tourism
- Ecotourism emphasizes educational experiences, minimal environmental impact, and local service utilization.
- Revenue generated from gambling surpasses that from professional sports.
Notable Locations
- Atlantic City is located in New Jersey and is known for its casinos.
- Monaco is near France and Italy, while Macau is a Special Administrative Region of China.
- There are approximately 400 Indian casinos operating in the U.S.
Communication in Producer Services
- Producer services heavily rely on effective communication.
- The front office typically involves face-to-face interactions essential for maintaining a positive corporate image.
- Back office tasks are most efficiently managed in low-rent, low-labor-cost settings.
Technological Influence
- Rapid advancements and reduced costs in information and communication technology have been crucial for the internationalization of services.
- India has emerged as a successful hub for outsourced service sector jobs, particularly in business process outsourcing (BPO).
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Description
This quiz covers the definitions and concepts related to tertiary activities as outlined on pages 303-310. Test your knowledge on the different sectors of the economy, including primary and secondary activities, and their roles in production and exchange.
