https://padlet.com/maci_enehilidis/2xkmjzl48cm6 created by: Maci.E , Grace.F and Grace.K en-us 2019-02-17 22:49:56 UTC 2026-01-31 15:59:41 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Clouds.png maci_enehilidis https://padlet.com/maci_enehilidis/2xkmjzl48cm6/wish/332179841 Economic Structure refers to a change in the nature and pattern of production of goods and services within an economy. This may include a significant growth in the level of services in an economy compared to others. Structural Change describes the changing balance of output, trade, income and employment within Economic Sectors.

Economy Sectors includes of:
-property
-business
-retailing
-trades
-tourism
-educational services
-hospitality
-community and personal services

When structural change occurs in the economy it leads to rapid employment growth in the services sector, which accounts for 86% of total employment. Affective training and staff empowerment are also critical to business success in such customer service base industries. As each sector grows, recruitment selection and remuneration become important industrial issues in the work place. Structural change can offer opportunities in many industries as economy sectors sectors grow, for example, tourism is a rapidly growing industry therefore job opportunities, however if the business are unable to compete jobs are lost within the business.

Levels of Structural Change:
Within economic structural change, there are 3 main levels of the economic change. These levels include of Primary, Secondary, Tertiary.

Primary: Includes of whole based production lines such as farming, fishing, mining etc.

Secondary: Includes of larger based production lines that are critical of a futuristic, modern and fast growing economy. Industries include, manufacturing and construction industries.

Tertiary: Includes of the largest production line of the economy and helps with globalisation to mainly benefit all parties. Industries include, tourism, banking, software industries etc.

How Structural Change Works:
Structural change is possible in the economy because of the dynamic nature of the economic system. Patterns and changes in sectoral employment drive demand shifts through the income elasticity. It manages how the economy reacts to sector positive or negative changes. 


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