Economic sector
From Wikipedia, the free encyclopedia
| Economic sectors |
| Three-sector hypothesis |
|---|
| Colin Clark |
| Jean Fourastié |
| Primary sector (raw materials) |
| Secondary sector (manufacturing) |
| Tertiary sector (services) |
| Others suggested |
| Quaternary sector |
| Quinary sector |
| By ownership |
| Public sector |
| Private sector |
| Business sector |
| Voluntary sector |
This figure illustrates the percentages of a country's economy made up by different sectors based on its level of income or development. The primary sector is the extraction of raw materials. The secondary sector is the conversion of raw materials into manufactured goods. The tertiary sector is the provision of services rather than manufacture of goods. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors. The less developed countries exhibit the inverse pattern.
The economy may be classified into subdivisions called sectors (also called industries) in several ways. Sectors may be further subdivided into subsectors.
[edit] Based on stage in production chain
More details about the various phases of economic development follow. As this process was far from being homogeneous geographically, the balance between these sectors differs widely among the various regions of the world.
| This economics or finance-related article is a stub. You can help Wikipedia by expanding it. |