Question

what are the sectors of economy


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Answer 1

One classical breakdown of economic activity distinguishes three sectors: Primary: involves the retrieval and production of raw materials, such as corn, coal, wood and iron. Secondary: involves the transformation of raw or intermediate materials into goods e.g. manufacturing steel into cars, or textiles into clothing

Answer 2

The four sectors in the American economy are Government, For-Profit or Business, the Nonprofit or Independent, and Households or Family. While we often think of these as separate entities, they are often inter-dependent.

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