state the different types of economic activities
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In terms of the national economy, a basic classification of economic sectors, broken into four basic sectors is used:
Raw Materials (Primary Sector)Manufacturing and Industry (Secondary Sector)Service Sector (Tertiary Sector)Knowledge Sector (Quarternary Sector)
Raw Materials (Primary Sector)Manufacturing and Industry (Secondary Sector)Service Sector (Tertiary Sector)Knowledge Sector (Quarternary Sector)
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Three types of economic activities are classified by business, professions and employment. Businesses can be larger or small and are focused on providing goods and services in exchange for earning profit.
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