what is sector in economics
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DescriptionOne 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.
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Explanation:
On classical break down of the economic activity distinguish three sectors.
primary sector, secondary sector and teritary sector.