Question

explain the three sectors with examples​

Answer 1

Answer:

• Primary sector – extraction of raw materials – mining, fishing and agriculture.
• Secondary / manufacturing sector – concerned with producing finished goods, e.g. factories making toys, cars, food, and clothes.
• Service / ‘tertiary’ sector – concerned with offering intangible goods and services to consumers. This includes retail, tourism, banking, entertainment and I.T. services.

Answer 2

Answer:

The marginal efficiency of capital (MEC) is that rate of discount which would equate the price of a fixed capital asset with its present discounted value of expected income. ... It is calculated as the profit that a firm is expected to earn considering the cost of inputs and the depreciation of capital.