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The quaternary sector of the economy is based upon the economic activity that is associated with either the intellectual or knowledge-based economy. [1] This consists of information technology; media; research and development; information-based services such as information-generation and information-sharing; and knowledge-based services such as consultation, entertainment, broadcasting, mass ...
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.
Three sectors according to Fourastié Clark's sector model. One classical breakdown of economic activity distinguishes three sectors: [1] Primary: involves the retrieval and production of raw-material commodities, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector.
Bloomberg Industry Classification Standard [2] Bloomberg L.P. 10/.../2294 GICS Global Industry Classification Standard: Standard & Poor's, MSCI: market/ company 2-8 digits 11/24/69/158 1999–present (2018) HSICS Hang Seng Industry Classification System [3] Hang Seng Indexes Company: Revenue source 11/31/89 IBBICS Industry Building Blocks [4]
Primary sector of the economy (the raw materials industry) Secondary sector of the economy (manufacturing and construction) Tertiary sector of the economy (the "service industry") Quaternary sector of the economy (information services) Quinary sector of the economy (humanitarian services)
Quaternary sector – the part of the economy that produces knowledge-based services. [5] [6] Information industry – Information generation and sharing – Information technology – Consulting services – Education – Research and development – Financial planning services –
Colin Clark's sector model of an economy undergoing technological change. In later stages, the Quaternary sector of the economy grows. One of the first people to develop the concept of the information society was the economist Fritz Machlup. In 1933, Fritz Machlup began studying the effect of patents on research.
This is necessitated by the demands of a tertiary and quaternary sector: in order to better service an industry focused on finance, education, communication, management, training, engineering, and aesthetic design, the city must become points of exchange capable of providing the most updated information from across the globe.