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Lecture

Tertiary Sector.docx

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Department
Geography
Course
GEOG 1HB3
Professor
Walter Peace
Semester
Spring

Description
Tertiary Sector  Introduction  • What factors determine the best (most profit) location for a consumer service?  • Tertiary sector includes: o Retail o Business services.  o Wholesaling (distribution)  o Hospitality ( domestic)  o Education  • Build the exchange function of the economy.  Key Concepts • *central place: A market center where goods and services are available.  • Market area: geographic extent or area surrounding the central place, from which customers are attracted to enter.   • Threshold: minimum lvl of sales necessary to sustain a business.  • Range (0f a good): maximum distance a consumer is willing to travel to by a particular good.  • Order: ranking of a good based on threshold size.  • Different goods have different ranges and thresholds: o 1. Low order goods: small range; inexpensive, purchased most often.  o 2. Higher order goods: large range; more expensive; purchased very infrequently. • The hierarchy of goods ( central places)  are based on the threshold size ( high to low order) 
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