Economic sector

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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.