Outline the differences between the four types of industries.
1. Primary industry: This is the industry involved in the extraction of natural resources from the earth. Examples include mining, forestry, agriculture, fishing, and oil and gas exploration. These industries are dominated by physical labor, equipment, and machines.
2. Secondary industry: This industry transforms raw materials into finished goods or products. Examples include manufacturing, construction, and refining. This industry requires heavy investments in machinery and capital, and skilled labor is necessary to operate them.
3. Tertiary industry: This industry provides services to consumers. These services include transportation, communication, healthcare, education, hospitality, and entertainment. This industry is dominated by human interaction, and it relies heavily on technology to improve efficiency and productivity.
4. Quaternary industry: This industry is involved in the creation and development of knowledge, technology, and innovation. Examples include software development, research and development, and education. This industry is dominated by intellectual capital and highly educated professionals, and it relies heavily on research and development for growth and expansion.