Distinguish between tertiary and quaternary economic activities
Answers
Tertiary sector is known as the 'services sector'. It is the economic segment which provides services and final end products to the consumers. As the economy becomes more and more developed it shifts from primary and secondary sector towards tertiary sector. However Tertiary activities include both production and exchange
For example trade, transport and communication facilities. Tertiary services are also known as white collar jobs.
Quaternary activities are specialized tertiary activities in the ‘Knowledge Sector’. There has been a very high growth in demand for and consumption of information based services. Quaternary activities include from tax consultants, software developers, elementary schools and university classrooms, hospitals, doctors offices, theaters etc. Quaternary activities can also be outsourced.