11-20-2014, 08:05 AM
Sectors of Economy
The various components of economy classified into three major groups and their sub-groups such as primary sector (agriculture, horticulture, mining), Secondary sector (manufacturing, household industry etc.) and tertiary sector (commerce, trade, transport, services etc.).
Primary sector of the economy extracts or harvests products from the earth. The primary sector includes the production of raw material and basic foods. The packaging and processing of the raw material associated with this sector is also considered to be part of this sector.
Secondary sector of the economy manufactures finished goods. All of manufacturing, processing, and construction lies within the secondary sector.
Tertiary sector of the economy is the service industry. This sector provides services to the general population and to businesses.
The quaternary sector of the economy consists of intellectual activities such as culture, libraries, scientific research, IT etc.
The various components of economy classified into three major groups and their sub-groups such as primary sector (agriculture, horticulture, mining), Secondary sector (manufacturing, household industry etc.) and tertiary sector (commerce, trade, transport, services etc.).
Primary sector of the economy extracts or harvests products from the earth. The primary sector includes the production of raw material and basic foods. The packaging and processing of the raw material associated with this sector is also considered to be part of this sector.
Secondary sector of the economy manufactures finished goods. All of manufacturing, processing, and construction lies within the secondary sector.
Tertiary sector of the economy is the service industry. This sector provides services to the general population and to businesses.
The quaternary sector of the economy consists of intellectual activities such as culture, libraries, scientific research, IT etc.