Explain each sector of economic activity based on GDP contribution and employment generation? Fast please
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The main sectors of the economy are:
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.
Service / ‘tertiary’ sector – concerned with offering intangible goods and services to consumers. This includes retail, tourism, banking, entertainment and I.T. services.
Quaternary sector (knowledge economy, education, research and development)
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