Define the three sectors of economic activities.give example
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One classical breakdown of economic activity distinguishes three sectors:[1]
Primary: involves the retrieval and production of raw materials, such as corn, coal, wood and iron. (A coal miner, farmer or fisherman would be workers in the primary sector.)Secondary: involves the transformation of raw or intermediate materials into goods e.g. manufacturing steel into cars, or textiles into clothing. (A builder and a dressmaker would be workers in the secondary sector.)Tertiary: involves the supplying of services to consumers and businesses, such as baby-sitting, cinema and banking. (A shopkeeper and an accountant would be workers in the tertiary sector.)
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Primary: involves the retrieval and production of raw materials, such as corn, coal, wood and iron. (A coal miner, farmer or fisherman would be workers in the primary sector.)Secondary: involves the transformation of raw or intermediate materials into goods e.g. manufacturing steel into cars, or textiles into clothing. (A builder and a dressmaker would be workers in the secondary sector.)Tertiary: involves the supplying of services to consumers and businesses, such as baby-sitting, cinema and banking. (A shopkeeper and an accountant would be workers in the tertiary sector.)
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1.primary sector:The primary sector involves the extraction of raw materials and natural resources. Examples of this are farming and mining, as well as the extraction of oil and gas.
2.secondary sectors:The secondary sector turns these raw materials into products. Manufacturing and Construction are secondary sector industries. In the case of Oil & Gas this involves the processes from refining to delivery of fuel at the petrol pump. The production of oil and synthetic petroleum products such as lubrication oils and plastics also fall into this sector.
3.tertiary sector:The tertiary sector is also known as the service sector. Firms in this sector provide services to other businesses and consumers.This sector include transportation,banking, etc
2.secondary sectors:The secondary sector turns these raw materials into products. Manufacturing and Construction are secondary sector industries. In the case of Oil & Gas this involves the processes from refining to delivery of fuel at the petrol pump. The production of oil and synthetic petroleum products such as lubrication oils and plastics also fall into this sector.
3.tertiary sector:The tertiary sector is also known as the service sector. Firms in this sector provide services to other businesses and consumers.This sector include transportation,banking, etc
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