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This sector evolves in well-developed countries where the primary and secondary sectors are a minority of the economy, and requires a highly educated workforce. [4] For example, the tertiary and quaternary sectors form the largest part of the UK economy, employing 76% of the workforce.
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.
In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and quinary service sectors. Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and ...
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 –
Economic activities can be classified in a variety of ways. 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 U.S. economy is poised to experience immediate shifts as President-elect Trump prepares for his second term, beginning in January. Read Next: If Trump Eliminates the Department of Education, Do...
Trump’s economic policies include plans to extend tax cuts, scale back regulation, and promote domestic industries. But as strategists and economists have warned over the last few weeks, there ...
Pages in category "Economic sectors" The following 13 pages are in this category, out of 13 total. ... Tertiary sector of the economy; Quaternary sector of the economy;