Industry and Economy

Before exploring the creative industries and your country’s economy, it makes sense to consider what exactly we mean by the terms ‘industry’ and ‘economy’. An economy could be described as a system of consumer and business transactions, of goods and services produced and distributed; it includes various forms of wealth such as currency, stock and trade. An industry is made up of companies and businesses that deal in broadly similar goods, services or ideas.
Industries can be categorised as

primary (extracting raw materials)

secondary (processing materials or making products)

tertiary (providing services) or quaternary (concerned with research and development).

In the chart below place the industries into the correct category:

Different countries have different economic and industrial strengths. Some countries rely on heavy industry whilst others rely on service industries and research and innovation to generate income for their economies. There is now a world market for all goods but does this lead to greater choice and more competitive prices for goods? There is also more attention paid to particular BRANDS which are known around the world.


Research Task: Innovation
1. Can you think of any companies from your country, products or ideas that are known and used in other countries? Make a list and compare with another individual or group.

2. What innovations have come out of your country in the last fifty years? List a range of key examples across at least three sectors.

Creative Sectors

Service industries, and in particular financial services, can make up a large proportion of the wealth generated by an economy today. However, in recent years, the creative industries have come to play an increasingly significant role as well. But what exactly are the creative industries, and what do they do?

Sectors within the creative industries include:
Advertising and marketing, Architecture, Crafts, Fashion, Film, TV, IT, software, Publishing and Music.


Can you name any companies working within these sectors? You may need to conduct some research online, or from another source, to find company names.

Apart from those listed here, can you think of any other sectors that could be included within the creative economies?


Extended Research Task
This task is designed to give you an overview of three sectors and a more detailed knowledge of a particular business or organization of your choice. Finally, you will present your findings to your class or group.

1. Conduct your own research into one of the creative industry sectors listed above. Find out what sorts of products or services are created within that industry, the kinds of processes (and technologies) they use, and find examples of businesses within these sectors.

2. Now create a more in-depth profile on one of these businesses. Find out how it is organized and what kinds of jobs there are within the business; think also about how the business researches and develops its products, ideas or services. What sources of inspiration do they draw on? And who is their target market?