Discuss the main sectors of the economy along with the occupational divisions.
Answers
Answer:
Primary sector – extraction of raw materials – mining, fishing and agriculture. Secondary / manufacturing sector – concerned with producing finished goods, e.g. Construction sector, manufacturing and utilities, e.g. electricity. ... Quaternary sector (knowledge economy, education, research and development)
Explanation:
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Answer:
The major sectors of the economy are Primary Sector, Secondary sector, Service Sector, Quaternary Sector:-
• Primary sector:-This sector involves group of activities involved in the exploitation of natural resources in order to support other economic sectors. E.g.:- Mining , Poultry Farming
• Secondary sector:-Secondary sector focuses on producing finished goods for consumption. It is also known as Manufacturing sector.E.g: Textile manufacturing industry, Handcrafts
• Service Sector:-This sector focus on providing services which are intangible in nature but are essential. It is also known as Tertiary sector. E.g.:-Banking and Financial Services, Entertainment Services.
• Quaternary Sector:-It is also known as ‘Knowledge Economy”. Major activities includes Research & Development (R&D), Education Training & Technologies: - Automation of a process with the help of IT.