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What sector

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What sector
  • 1 answers

Gaurav Seth 5 years ago

Sector defines a large segment of the economy in which businesses share the same or a related product or service.

  1. When we produce a good by extraction and collection of natural resources, it is known as the primary sector. Eg: Farming, forestry, hunting, fishing and mining.
  2. The secondary sector covers activities in which natural products are changed into other forms through ways of manufacturing. It is the next step after primary. Some manufacturing processes are required here. It is also called the industrial sector. For example, using cotton fibre from the plant, we spin yarn and weave cloth. Using sugarcane as raw material, we make sugar or gur.
  3. Tertiary sector includes activities that help in the development of the primary and secondary sectors. These activities, by themselves, do not produce a good but they are an aid or support for the production process. It is also called the service sector. Example: Teachers, doctors, washermen, barbers, cobblers, lawyers, call centres, software companies, etc.
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