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Chapter 11

Chapter 11. The Atlantic Economy. Sectors of Our Economy. All of the goods and services that you use in a day – be they your sneakers or your cafeteria lunch – are related to different types of activity in our economy. These types of activities can be broken into four sectors.

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Chapter 11

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  1. Chapter 11 The Atlantic Economy

  2. Sectors of Our Economy • All of the goods and services that you use in a day – be they your sneakers or your cafeteria lunch – are related to different types of activity in our economy. These types of activities can be broken into four sectors.

  3. Secondary Industry Primary Industry • Primary industry refers to activities in which people use, extract, or harvest natural resources, such as water, soil, fish, animals, plants, and trees. The products of primary industry are only slightly altered before use. • Secondary industries process raw materials into finished goods. During this process, raw materials are turned into products that are quite different from the original materials. This increase in value is known as value added. Manufacturing and construction are part of this sector.

  4. Examples • Primary Industry:-wood harvesting-gold/coal mining-fishing-farming • http://www.youtube.com/watch?v=ho-Az4mhaXY • Secondary Industry:-making books from paper-making bread-making leather shoes-making potato chips

  5. QuaternaryIndustry TertiaryIndustry • Tertiary industries enable consumers to get and use the finished goods. Workers in this sector provide services rather than goods. • Quaternary industries involve specialized technology. Research scientists and computer software designers are examples of people who work in this industry. Quaternary activities usually provide services rather than goods, and are often grouped with tertiary industries.

  6. Examples • Tertiary Industry:-government-education-tourism-retail sales • Quaternary Industry:-information generation and sharing-research and development-financial planning

  7. Natural Resources • Natural resources  the materials found in the natural environment that humans can use to satisfy their needs and wants. • Three conditions:1. Society must feel it needs the material. 2. Technology must be advanced enough to extract or harvest the material. 3. It must be economical to extract the material and put it to use.

  8. Gross Domestic Product • The four sectors of the economy combine to produce the Gross Domestic Product, or GDP. • GDP the total value of goods and services produced within a given area in a given year. • Economists usually pay close attention to GDP, because the number over time indicates whether an economy is growing, staying the same, or declining. • http://www.nationmaster.com/graph/eco_gdp-economy-gdp • http://www.canadiangeographic.ca/worldmap/cida/cidaworldmap.aspx

  9. Atlantic Canada & Primary Industries • For centuries, primary industries have formed the basis of our region’s economy. • Some, like fishing, have even influenced our culture. However, just as cultures change, so does the economy. • Today, primary industries are important, but they don’t play as large a part as they did in the past. In some cases, primary industries are in decline because of the depletion of resources. • Example: fisheries.

  10. Endangered: The Atlantic Whitefish (2002) • The Atlantic Whitefish is a species endemic to Nova Scotia, meaning that it breeds nowhere else in the world. • Little is known about this species and no population estimate for the species exists. Past and present threats to the species include: hydro-electric development, predation by non-native fish species, acidification and fishing.http://www.youtube.com/watch?v=uzI0GC3DZ8s • http://www.gov.ns.ca/natr/wildlife/biodiversity/species-list.asp

  11. Using Our Forests • In Atlantic Canada, some trees are harvested for use in construction. However, much of the annual cut of timber goes to the region’s pulp and paper mills. Most of the forested areas are owned by provincial governments. • To protect the forests, each province sets a limit of timber that can be cut each year. This amount is referred to as the allowable annual cut (AAC). • http://www.youtube.com/watch?v=yTKtsJ2jya0&context=C43ccf6bADvjVQa1PpcFP4LaGq8K0HPEIaFZR2bjr9prp04maLaF0=

  12. Treasures From the Earth • Mining activities that take mineral substances from the earth. • These substances may be metallic, non-metallic, or fossil fuels. • Minerals are used to produce things like heavy equipment, construction materials, heating fuel, and household appliances.

  13. Farming in Atlantic Canada • Farming a set of activities devoted to producing food and other products from the land. • Types of farms include vegetable, livestock, dairy, egg, and fur. • Three Stages:1. Input  everything needed to grow a crop.2. Process  farmer carries out the activities needed to mature the crop.3. Output  the result of the first two stages, or the final product.

  14. Case Study: Potato Farming in Prince Edward Island • Get a textbook and turn to page 166. • Read “Potato Farming in Prince Edward Island.” • Take out a piece of paper and answer questions 1 a & b, 2 a, b & c, and 3 on page 168. • Table 11.6 can be found on the top of page 163. • Pass in when finished for 10 marks.

  15. Atlantic Canada & Secondary Industries • Secondary industries include things like manufacturing, construction, transportation and utilities (hydro and gas). • Many secondary industries in Atlantic Canada are related to the primary sector. • Examples: Fishing  Shipbuildinghttp://www.youtube.com/watch?v=GxKDV-cadIY Agriculture  Food-processing

  16. First-stage manufacturing  processing raw materials. • Second-stage manufacturing  using processed materials to make finished products.Example: Ore has to be processed in a smelter to produce nickel. Nickel is used for making stainless steel for pots, pans, knives, forks, etc.

  17. Tertiary & Quaternary Industries • The tertiary sector provides services rather than goods. • People who work in the service sector include workers in the tourism and hospitality industry, stockbrokers, business consultants, clerks, doctors, etc. • The quaternary sector includes specialized and “high-tech” activities.

  18. Tertiary and quaternary industries often have a close link with the primary and secondary industries. • For example, fishers rely on weather forecasters to determine what ocean conditions will be like. They rely on mechanics and technicians to check and repair equipment.

  19. The “New” Economy • The economy of Atlantic Canada has changed. • Since the 1980’s, computers and information technology have revolutionized the world of work. • How? • Processing, manufacturing, job interviews, global markets, strong competition.

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