SOCI 1000 Lecture Notes - Lecture 12: Tertiary Sector Of The Economy, Primary Sector Of The Economy, Secondary Sector Of The Economy
8 Dec 2017
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Document Summary
How we spend most of our adults lives. Economy: a social institution in which people carry out the production, distributions, and consumption of goods and services. Capitalism is based on private ownership of the means of production, an exchange relationship between owners & workers, an economy driven by the pursuit of profit, and competitive market relations. Early capitalism had families as the ruling class: wealth was handed down through family lines. Job opportunities shift from one sector to another depending on multiple factors: some local & some more directly connected to global flows, primary resource industries. Much of nl is still connected to primary industries: fishery, oil & mineral extraction, primary sector work extracts resources from the env, includes forestry, hunting, fishing, raising animals, farming, mining, etc, manufacturing. Processes raw materials and manufactures goods with them: service sector. Huge employer sector: jobs are neither as secure or as well compensated as positions in manufacturing which are more often unionized.
