what are the major sectors of an economy
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Of the large sectors within an economy, the first group is called the primary sector and involves companies that participate in the extraction and harvesting of natural products from the earth, such as agriculture, mining and forestry.
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and services (tertiary).
Hope this answer will help you..《《
Of the large sectors within an economy, the first group is called the primary sector and involves companies that participate in the extraction and harvesting of natural products from the earth, such as agriculture, mining and forestry.
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and services (tertiary).
Hope this answer will help you..《《
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Primary Sector: Based off the extraction of raw materials from the Earth.
Secondary Sector: Based off the production of finished products from the raw materials extracted.
Tertiary Sector: Based off the selling of the products manufactured by the Secondary Sector.
Quaternary Sector: Based off the activities relating to the government, information technology and other intellectual services.
Quinary Sector: Based off decision making in our society . This includes fields such as government, science, research, health care, media etc.
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