Question

name the three broad sectors of an economy

Answer 1

the three sectors constituting an economy are the agricultural or primary sector, the Industry or secondary sector and the services or tertiary sector.
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Answer 2

Thanks for the question

The measuring part of country's population based upon the economic area in which the population is employed.

Three Economic Sectors are:-

⇒ Primary Sector ⇔ (Raw Material Sector)

⇒ Secondary Sector ⇔ (Manufacturing Sector)

⇒ Tertiary Sector ⇔ (Service Sector)

Primary Sector:  It involves every section of human activity that converts natural resources into basic products. These are the products of agriculture, crop production, forestry, fisheries and animal husbandry, fishing, mining etc.

The primary sector is further classified into various sections :-

→ Agriculture

→ Forestry

→ Hunting and fishing

→ Mining and extraction of raw materials

Secondary sector: It takes raw materials and combines them to produce a higher value-added finished product. This sector is treated with utilizing raw materials from the primary sectors, such as iron and coke and the stock of finished goods, such as cars. These manufactured goods can then be sold further into the tertiary sector.

Few examples of the secondary sector are

→ Oil refinery.

→ Mills manufacturing textiles.

→ Factories producing steel, chemicals, plastic, car.

→ Food stock such as food processing.

Tertiary sector: This sector is concerned with the aspect of offering services to consumers and business.It includes retail of the manufactured goods.

It also provides services such as insurance and banking. In the 20th century, the service sector has risen due to enhanced labor productivity and higher disposable income.

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