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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 ...
Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and hospitality. [ 2 ] Economic theories divide economic sectors further into economic industries .
The following outline is provided as an overview of and topical guide to industry: Industry , in economics and economic geography , refers to the production of an economic good or service within an economy .
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.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Primary sector – this involves the extraction of resources directly from the Earth, this includes agricultural and resource extraction industries. In these industries, the product (that is, the focus of production) is a natural resource.
Economic sector + Primary sector of the economy; ... Quaternary sector of the economy; Quinary sector of the economy; E. Economic restructuring; H. Health sector; I.
There is also the Global Industry Classification Standard (GICS), which is used to assign companies to specific economic sectors and industry groups. [6] There are many industry classifications in the modern economy, which can be grouped into larger categories called economic sectors. Sectors are broader than industry classifications.