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Builders and dressmakers work in the secondary sector. Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in the tertiary sector.
The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector ( raw materials) and the secondary sector ( manufacturing ).
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The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector ( raw materials ) and the secondary sector ( manufacturing ).
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary). [1] .
The tertiary economic activity or sector is the most important in modern economies. It represents more than 60% of PIB in developed countries and employs most.
- The tertiary sector of the economy, also known as the service sector, comprises industries that provide services to consumers and businesses rather...
- The main industries in the tertiary sector include retail and wholesale trade, hospitality, transportation and logistics, education, healthcare, pr...
- The tertiary sector plays a vital role in economic development by providing employment opportunities, contributing to GDP growth, and enhancing the...
- Challenges faced by the tertiary sector include technological advancements and automation that can lead to job displacement, the need for continuou...
helpfulprofessor.com · tertiary-sector-of-theTertiary Sector of the Economy: Definition and Examples
Nov 10, 2022 · The tertiary sector of the economy, also known as the service sector, provides services instead of finished products. The quaternary and quinary sectors are considered to be extensions of this sector.
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The term reflects the analysis of the three-sector model of the economy, in which the primary sector produces raw materials used by the secondary sector to produce goods, which are then distributed to consumers by the tertiary sector.
