18th November 2019

businessdictionary
13

What are the main sectors of the economy?

Many economists recognize the following five economic sectors; the primary sector which includes agriculture, mining and other natural resource industries; the secondary sector covering manufacturing, engineering and construction; a tertiary sector for the service industries, the quaternary sector for intellectual

So, what are the 3 main sectors of the economy?

The three-sector theory is an economic theory which divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and services (tertiary). It was developed by Allan Fisher, Colin Clark and Jean Fourastié.

What are the different industry sectors?

Major industries
  • Aerospace industry.
  • Agriculture (see also Agribusiness) Fishing industry. Timber industry. Tobacco industry.
  • Chemical industry. Pharmaceutical industry.
  • Computer industry. Software industry. Technology industry.
  • Construction industry.
  • Real estate industry.
  • Public utilities industry.
  • Defense industry. Arms industry.

What are the three main types of industry?

Industry can be divided into three main categories. Recently Tertiary industry has been sub-divided into a fouth type. Extract raw materials (which are natural products) from the land or sea e.g. oil, iron ore, timber, fish. Mining, quarrying, fishing, forestry, and farming are all example of primary industries.