There are 4 economic sectors that derives a production -:
Primary Sector
Secondary Sector
Tertiary Sector
Quaternary Sector
Primary Sector
The primary sector is the first step of a production, this is a sector were raw materials are extracted from natural resources
The raw materials and other type of natural materials are sold in this market
Example -: Extraction of iron, gold and etc
Secondary Sector
Industries transform raw materials into finished goods and they are produced in the market through manufacturing
Example -: Food processing, construction and etc
Tertiary Sector
Tertiary sector is the sector in market were tangible goods and service
Example -: Finance, Education and etc
Quaternary Sector
The quaternary sector of the economy focuses on knowledge-based activities, including information technology, research and development, and education
Example of quaternary sector -: Financial planning, software research and etc
Why is the service sector growing faster than the primary and secondary sectors in many developed countries?
How does the shift from agriculture to industry impact a country's economy and employment patterns?
What role does the informal sector play in the economy of developing nations?
How has technology transformed the tertiary (service) sector in the last two decades?
Can a country develop economically without a strong industrial (secondary) sector? Why or why not?
Why is the quaternary sector becoming increasingly important in knowledge-based economies?
What are the environmental impacts of over-reliance on the primary sector, such as mining or agriculture?
keywords
Industrialization
Services
Employment
Economic Development
Diversification