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Jan 28, 2020 · Tertiary Sector. The tertiary sector of the economy is also known as the service industry. This sector sells the goods produced by the secondary sector and provides commercial services to both the general population and to businesses in all five economic sectors.
The primary, secondary and tertiary sectors represent various business types and the goods they produce and sell. It's easiest to think of them as a chain of production, from extracting the raw materials (primary) through manufacturing (secondary) and finally to servicing the end consumers (tertiary).
In economics, industries are generally classified as primary, secondary, tertiary, and quaternary; secondary industries are further classified as heavy and light. Primary industry. This sector of a nation’s economy includes agriculture, forestry, fishing, mining, quarrying, and the extraction of minerals.
Secondary: involves the transformation of raw or intermediate materials into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector. Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking.
Nov 21, 2023 · There are four different sectors namely, the primary, secondary, tertiary, and quaternary sector. What is an example of a secondary sector? Examples of activity within the secondary...
1. Explain what is meant by the primary, secondary, and tertiary sectors of an economy. 2. Describe the relative magnitude of these sectors in the United States, and how this has changed over time. 3. Describe some major characteristics of agriculture, energy, and other primary sector industries in the United States. 4.
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 ).
