Notesale: Turn your study into money

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Commercial Operations
1
...
3
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Primary sector
2
...
Tertiary sector
Primary sector
Raw materials are extracted or harvested from the earth in the
primary sector and examples include:
1
...
Farming
3
...
Forestry
Secondary sector
The secondary sector of the economy is where raw materials
which are extracted from the primary sector are converted into
goods and services and examples include:
1
...
Manufacturing
3
...
Car manufacturing
Tertiary sector
Tertiary sector of the economy provides a range of services to the

general population as well as to business and it’s also known as
the service industry/ Service sector
...


The tertiary sector is dependent on the primary sector and
secondary sector to obtain products to sell in order to make an
income/ profit
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De-Industrialization is the decline/ fall in the manufacturing sector,
De- Industrialization happens due to many reasons for ex:
• In the development process of countries, generally
manufacturing tends to decline as production moves to a
trading partner where labor costs are low
...


The relative importance of each sector within countries
Primary sector
Importance:
➢ Developing Countries: In most developing countries, the
primary sector is the largest sector
...

➢
Developed Countries: In the case of developed countries,
the contribution of the primary sector is generally small
because the economic activities are focused on
manufacturing and services
...

Secondary sector
Importance:
➢ Developing Countries: With the rise in industrialization, the
secondary sector possesses greater importance in countries
...

➢ Developed Countries: In most of the developed countries, in
general, the secondary sector is very advanced with high
value and technology incorporations in manufacturing, and it
usually complements the service sector with finished goods
...
Tertiary Sector
Importance:
➢ Developing Countries: In developing countries, the tertiary
sector is still growing but it is normally third in importance
after manufacturing and agriculture
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➢ The Developed Countries: The tertiary sector is the biggest
and most dominant in developed economies
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