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The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector (raw materials) and the secondary sector (manufacturing). The tertiary sector consists of the provision of services instead of end ...
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. 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.
Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in the tertiary sector. In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and quinary service sectors.
At the top level, they are often classified according to the three-sector theory into sectors: primary (extraction and agriculture), secondary (manufacturing), and tertiary (services). Some authors add quaternary (knowledge) or even quinary (culture and research) sectors. Over time, the fraction of a society's activities within each sector changes.
These technological advances and investment allow the primary sector to employ a smaller workforce, so developed countries tend to have a smaller percentage of their workforce involved in primary activities, instead having a higher percentage involved in the secondary and tertiary sectors. [7]
For example, a sport is a job for a professional athlete who earns their livelihood from it, but a hobby for someone playing for fun in their community. An element of advance planning or expectation is also common, such as when a paramedic provides medical care while on duty and fully equipped rather than performing first aid off-duty as a ...
Tertiary (/ ˈ t ɜːr. ʃ ə. r i, ˈ t ɜː r. ʃ i ˌ ɛr. i / TUR-shə-ree, TUR-shee-err-ee) [1] is an obsolete term for the geologic period from 66 million to 2.6 million years ago. The period began with the extinction of the non-avian dinosaurs in the Cretaceous–Paleogene extinction event, at the start of the Cenozoic Era, and extended to the beginning of the Quaternary glaciation at ...
As tertiary and quaternary sector positions are essentially knowledge-oriented, this will result in a restructuring of education, at least in its nuances. The "new power… of the expert" consequently gives rise to the growing role of universities and research institutes in post-industrial societies. [ 9 ]