Sectors of the Economy

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Transcript:Sectors of the Economy
A nation's economy can be divided into various sectors to define the proportion of the population engaged in the activity sector. There are five sectors which define a nation's economy and these are: Primary, Secondary, Tertiary, Quaternary and Quinary.
Primary Economic Sector: Agriculture
The primary sector of the economy extracts or harvests products from the earth. The primary sector includes the production of raw material and basic foods. Activities associated with the primary sector include agriculture (both subsistence and commercial), mining, forestry, farming, grazing, hunting and gathering, fishing, and quarrying. The packaging and processing of the raw material associated with this sector is also considered to be part of this sector.
Secondary Economic Sector: Manufacturing
The secondary sector of the economy manufactures finished goods. All of manufacturing, processing, and construction lies within the secondary sector. Activities associated with the secondary sector include metal working and smelting, automobile production, textile production, chemical and engineering industries, aerospace manufacturing, energy utilities, engineering, breweries and bottlers, construction, and shipbuilding.
Tertiary Economic Sector: Service Industry
The tertiary sector of the economy is the service industry. This sector provides services to the general population and to businesses. Activities associated with this sector include retail and wholesale sales, transportation and distribution, entertainment (movies, television, radio, music, theater, etc.), restaurants, clerical services, media, tourism, insurance, banking, health care, and law.
Quaternary Economic Sector: Intellectual Activities
The quaternary sector of the economy consists of intellectual activities. Activities associated with this sector include government, culture,…...

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