Sector or Industry Group –

the difference?

Week 1 Lesson 2

Accounting

YEAR 10

Dec 2014

Learning Intention: Understanding market and industry sectors.

Success Criteria:

Able to identify and explain the difference between market (economic) sectors and industry groups

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GKR

Create a Mindmap

How many sectors/sections/parts of the entertainment industry can you think of?

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Key Vocabulary:

• Market

• Sector

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Activity – Handout 1

• Create your own definitions

– Look at each of the sentences in Handout 1. Study how each word (in bold) from the vocabulary list is used.

– Now create your own definitions for each of these words.

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Sector or Industry

• The terms industry and sector are often used interchangeably

– sector refers to large segments (parts) of the economy

– industry refers to a group of companies that operate in the same segment of the economy or share a similar business type

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Sector

Economies are made up of 4 sectors

(and can be thought of as groups of jobs)

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SectorPrimary sector - Agricultural activities

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Livestock farming

Making direct use of natural resources

Sector

Secondary sector - Manufacturing & construction

a finished, usable product

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Buildings

Road making

Sector

Tertiary sector - Services

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Law

HealthcareBanking

Restaurant

Transport & DistributionRetail

Sector

Quaternary sector - Intellectual pursuits

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Research EducationInformation gathering

Industry Groups

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Companies are grouped according to their main business activities. This allows for comparisons

between companies.

Industry Groups

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Car Industry

Housing Industry

Manufacturing Industry

Financial Services

Global Industry Classification Standard (ICS)

• The Global Industry Classification Standard (GICS) enables investors to look at the whole market and compare companies based on their industry.

• To understand the industry groupings refer to Handout 2.

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Handout 3

• Complete Handout 3

You will need to hand this in at the end of the lesson – Put Your Name On It!!

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Review:

Use the Exit Slip to -

1. List the 4 sectors of the economy providing an example of what each sector does

2. What is an industry group?

3. Identify a learning strategy you used today.

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