Explain government and rest of the world as sectors of an economy.
Answers
Explanation:
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)
Explanation:
The political control and direction exercised over the actions of members, citizens, or inhabitants of communities, societies, and states and, direction of the affairs of a state, community, etc. ; political administration: Government is necessary to the existence of civilised society.