The closure of factories and a decline in the number of people working in the secondary sector.
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Economic sector
a major division of the economy based on the type of economic activity. The economies of all countries are made up of three sectors (primary, secondary, tertiary; most developed countries have a fourth sector (Quaternary).
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Energy consumption
the amount of energy used by individuals, groups of countries
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Foreign Direct Investment
Overseas investment in by TNCs.
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Fossil fuel
carbon fuels such as coal, oil and natural gas that cannot be ‘remade/renewed’.
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Global shift
the movement of manufacturing from developed countries to cheaper production locations in developing or emerging countries.
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Knowledge based economy
Making money through knowledge, information and skills. Tertiary sector.
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Informal employment
types of work that are not officially recognized and are taken up by people working for themselves on the streets of developing world cities. e.g. shoe shining, selling items on the street
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Industrialisation
The opening of more factories, and increase in the number of people working in the secondary sector.
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High-tech industry
economic activities that rely on advanced scientific research and produce new, innovative and technologically advanced products, such as microchips, new medical drugs and new materials. Quaternary sector.
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Other cards in this set
Card 2
Front
Economic sector
Back
a major division of the economy based on the type of economic activity. The economies of all countries are made up of three sectors (primary, secondary, tertiary; most developed countries have a fourth sector (Quaternary).
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