Question

Example of economic acyivity

Answer 1

Hi

Thanks for your question.

Economy is defined as the management of financial matters for a community, business or family. An example of economy is the stock market system in the United States.

In terms of the national economy, a basic classification of economic sectors, broken into four basic sectors is used:

• Primary Sector
• Secondary sector
• Tertiary sector
• Quarternary Sector.

Refer the attachment for examples and details.

Answer 2

Answer:

PRIMARY SECTOR

Activities associated with primary economic activity include agriculture (both subsistence and commercial), mining, forestry, grazing, hunting and gathering, fishing, and quarrying.

SECONDARY SECTOR

The secondary sector of the economy produces finished goods from the raw materials extracted by the primary economy. All manufacturing, processing, and construction jobs lie within this sector.

TERTIARY SECTOR

The tertiary sector of the economy is also known as the service industry. This sector sells the goods produced by the secondary sector and provides commercial services to both the general population and to businesses in all five economic sectors.

QUATERNARY SECTOR

Although many economic models divide the economy into only three sectors, others divide it into four or even five sectors. These final two sectors are closely linked with the services of the tertiary sector. In these models, the quaternary sector of the economy consists of intellectual activities often associated with technological innovation. It is sometimes called the knowledge economy.