Question

What is an economic? Explain the sectors of an economy.​

Answer 1

Answer:

Economic sectors are large groups of the economy, grouped according to their place in the production chain, by their kind of work (product or service) or ownership. ... Secondary sector processes raw materials or semi-finished goods into more valuable products. Tertiary sector is the provision of services.

Answer 2

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What is economic?

Economics is a social science concerned with the production, distribution, and consumption of goods and services.

Sectors of economy.

The three sectors of economy are:-

• Primary sector: It deals with the extraction of raw material.

Example: Mining, Forestry.

• Secondary sector: It deals with the manufacturing of goods.

Example: Textiles, machinery.

• Teritiary sector: It deals with the services that support the secondary sector and primary sector.

Example: Communication, transportation, banking.