TERTIARY INDUSTRY

1- KEY WORDS

-WELFARE STATE: A welfare state is a concept of government where the state plays a key role in the protection and promotion of the economic and social well-being of its citizens. It is based on the principles of equality of opportunity, equitable distribution of wealth, and public responsibility for those unable to avail themselves of the minimal provisions for a good life. The state assumes primary responsibility for the welfare of its citizens because all aspects of welfare are considered and universally applied to citizens as a "right". Welfare state can also mean the creation of a "social safety net" of minimum standards of varying forms of welfare.

-TRADE: Trade is the voluntary exchange of goods, services, or both. The original form of trade was barter, the direct exchange of goods and services. Later one side of the barter were the metals, precious metals. The invention of money greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.Trade exists for man due to specialization and division of labor, most people concentrate on a small aspect of production, trading for other products.

-INSURANCE : is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

-HEALTH SERVICES : The health-care industry incorporates several sectors that are dedicated to providing services and products dedicated to improving the health of individuals. According to market classifications of industry such as the Global Industry Classification Standard and the Industry Classification Benchmark the health-care industry includes health care equipment & services and pharmaceuticals, biotechnology & life sciences. The particular sectors associated with these groups are: biotechnology, diagnostic substances, drug delivery, drug manufacturers, hospitals, medical equipment and instruments, diagnostic laboratories, nursing homes, providers of health care plans and home health care.

-HOUSEHOLD CONSUMPTION: Consumption is a common concept in economics, and gives rise to derived concepts such as consumer debt. Generally, consumption is defined by opposition to production. Only the final purchase of goods and services constitutes consumption. Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services. This type of consumption is refers to household use.

-INTEREST RATE: An interest rate is the price a borrower pays for the use of money they borrow from a lender, for instance a small company might borrow capital from a bank to buy new assets for their business, and the return a lender receives for deferring the use of funds, by lending it to the borrower. Interests rates are fundamental to a Capitalist society. Interest rates are normally expressed as a percentage rate over the period of one year.

-TERTIARISATION: is an economic and social transformation that affects the most developed countries since the last phase of the industrial revolution (third industrial revolution). Not only is that the population employed in the tertiary sector (services) becomes larger than the secondary sector (industry), but the form of work in this sector is broadcast on all others

-MOTORWAY: a motorway is a dual carriageway limited access highway with grade separated junctions designed and built solely for motorised traffic.

-PIPELINE: pipeline transport is the transportation of goods through a pipe. Most commonly, liquid and gases are sent, but pneumatic tubes that transport solid capsules using compressed air have also been used. As for gases and liquids, any chemically stable substance can be sent through a pipeline. Therefore sewage, slurry, water, or even beer pipelines exist; but arguably the most valuable are those transporting fuels: oil (oleoduct), natural gas (gas grid) and biofuels.

-FREIGHT: cargo (or freight) is goods or produce transported, generally for commercial gain, by ship, aircraft, train, van or truck. In modern times, containers are used in most intermodal long-haul cargo transport.

-GATT-WTO: the General Agreement on Tariffs and Trade (typically abbreviated GATT) was negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). GATT was formed in 1947 and lasted until 1994, when it was replaced by the World Trade Organization in 1995. The original GATT text (GATT 1947) is still in effect under the WTO framework, subject to the modifications of GATT 1994

-LEISURE: Leisure or free time, is a period of time spent out of work and essential domestic activity. It is also the period of recreational and discretionary time before or after compulsory activities such as eating and sleeping, going to work or running a business, attending school and doing homework, household chores, and day-to-day stress. The distinction between leisure and compulsory activities is loosely applied, i.e. people sometimes do work-oriented tasks for pleasure as well as for long-term utility. Distinction may also arise between free time and leisure. The Situationist International maintains that free time is illusory and rarely free and instead, economic and social forces appropriate it from the individual and sell it back to him as a commodity in the form of leisure.

-SPA: is associated with water treatment which is also known as balneotherapy. Spa towns or spa resorts typically offer thermal or mineral water for drinking and bathing. They also offer various health treatments. The belief in the curative powers of mineral waters goes back to prehistoric times. Such practices have been popular worldwide, but are especially widespread in Europe and Japan. Day spas are also quite popular, and offer various personal care treatments.

-RESORT: a resort is a place used for relaxation or recreation, attracting visitors for holidays or vacations. Resorts are places, towns or sometimes commercial establishment operated by a single company. Such a self-contained resort attempts to provide for most of a vacationer's wants while remaining on the premises, such as food, drink, lodging, sports, entertainment, and shopping. The term "resort" sometimes is misused to identify a hotel that does not provide the other amenities required of a full resort. A resort is not merely a commercial establishment operated by a single company, although in the late twentieth century this sort of facility became more common.

-ENVIRONMENT: The biophysical environment is the symbiosis between the physical environment and the biological life forms within the environment, and includes all variables that comprise the Earth's biosphere. The biophysical environment can be divided into two categories: the natural environment and the built environment, with some overlap between the two. Following the industrial revolution, the built environment has become an increasingly significant part of the Earth's environment.