Understanding the World of Work
When you were younger, what were some of the common occupations you were familiar with? Chances are, they included being a doctor, a firefighter, a police officer and a teacher. As we grow older, we realise that there are many other jobs that keep the economy going. This article introduces students to the various facets of work and explains key terms that are frequently used to describe work.
Industries and Sectors
Industries refer to groups of businesses or companies that share a similar focus within the production of goods or services. These businesses may be further categorised into sectors, or rather, stages involved in the production process. There are five economic sectors as follows:
- Primary: Raw materials (e.g., agriculture, fishing, mining)
- Secondary: Manufacturing (e.g., automobile, textile, construction)
- Tertiary: Services (e.g., tourism, media, insurance)
- Quaternary: Information services (e.g., consultancy, research, IT)
- Quinary: Human services (e.g., government, education, commerce)
These sectors make up the economy and are interdependent. Using the example of producing computers, this involves sourcing raw materials (silica and sand); manufacturing the various parts that make up the hardware like microchips and memory cards; assembling these parts to construct a computer; and selling them so that they can be used in various fields. These fields, especially Information Technology and Commerce…
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