Specialisation of Skills/Methods of Production
Economic activities such as primary, secondary, tertiary, and quaternary focus on the utilization of resources for survival. This section emphasizes the role of secondary activities in transforming raw materials into valuable products. Various examples illustrate how materials like cotton and iron ore acquire value through manufacturing processes. Modern manufacturing is characterized by:
1. Complex Machine Technology: Uses advanced machinery for production.
2. Extreme Specialization: Division of labor allows workers to perform specific tasks repeatedly, leading to efficiency.
3. Vast Capital and Large Organizations: Significant investment is necessary for successful manufacturing operations.
4. Executive Bureaucracy: Organizational structures enhance operational efficiency.
Factors influencing industrial location primarily revolve around access to markets and raw materials, governmental policies, labor supply, energy sources, and transportation facilities. Industrial types are categorized based on size, input materials, and ownership, leading to classifications like household, small-scale, and large-scale manufacturing. High-tech industries are particularly noteworthy, as they depend heavily on research and development and are pivotal for advanced economic development.