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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. 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.
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.
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.
In a statist model, a strong state is driving interactions between the three components in a top-down implementation. [13] It creates stronger ties and a more integrated model. In a laissez-faire model, in which the industry and market forces are the leading forces, the ties are weaker and each institution tends to remain very independent.
Construction – process that consists of the building or assembling of infrastructure, including buildings, roads, dams, etc. Manufacturing – process which involves tools and labor to produce goods for use or sale. Ranges from handicraft to high tech industrial production.
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 .
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