Explain in detail the importance of economic sectors
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A primitive economy will primarily be based on the primary sector – with most people employed in agriculture and the production of food. As an economy develops, improved technology enables less labour to be needed in the primary sector and allows more workers to produce manufactured goods
One classical breakdown of economic activity distinguishes three sectors
✷Primary
☞Primary: involves the retrieval and production of raw materials, such as corn, coal, wood or iron. Coalminers, farmers and fishermen are all workers in the primary sector.)
✷Secondary
☞Secondary: involves the transformation of raw or intermediate materials into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector.
✷Tertiary
☞Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in the tertiary sector.
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