23. Explain the three sectors of economic activities with examples.
Answers
Primary: Fishing, farming, mining.
Secondary: Manufacturing, construction, garment production.
Tertiary: Banking, Insurance, legal services.
THREE MAIN SECTORS ARE PRIMARY, SECONDARY AND TERTIARY. GIVEN BELOW IN BRIEF!
Explanation:
Primary sector:
They are the first link in the produccion. They are in charge of extracting the raw materials from the nature, they work with the natural resources.
Normally, the salaries are not good and the profit is distrivuited among a very small group of people. This type of economic activities is composed of agriculture, mining, among others.
Secondary sector:
This type of economic activities are the industrial activities. They are in charge of transforming the raw materials into products ready for sale.
They use expensive machinery to transform the natural resources in valuable stuff for the market. This type of economic activities include the production of food, beverages, textile, chemical, petroleum, among others.
Tertiary sector:
This type of economic activities is responsible for the distribution of the product and the selling activity. It include important areas such us marketing. In this sector we can find different activities such us trade and media.
Trade: Trade is in charge of the distribution and marketing of the products that are produced in the first two activities.
Media: This include print, television, radio. They are in charge of the promotion of products and services.