Question: What Is The Other Name Of Primary Sector And Tertiary Sector?

What is the other name of primary sector?

The primary sector is sometimes known as the extraction sector – because it involves taking raw materials..

What is the example of tertiary sector?

The tertiary industry is a technical name for the service sector of the economy, which encompasses a wide range of businesses, including financial institutions (FIs), schools, hotels, and restaurants.

What is difference between primary and secondary sector?

Primary Sector refers to the sector wherein the production of goods and services is done by the exploitation of natural resources. Secondary Sector refers to the economic sector which transforms raw materials into finished goods through a manufacturing process which has more utility.

What is the difference between primary and tertiary activities?

Primary activities are those activities that which involve exploitation of natural resources. It is the base for production of other goods that is it provides raw materials. Example: Agriculture, mining, animal husbandry. Tertiary activities are those activities that provide services to the people.

What are the main components of tertiary sector?

What are the main components of tertiary sectorGovernment service.Education service.Health service. Entertainment service.Hotels and Restaurants.Retail. This conversation is already closed by Expert.

Why primary sector is known as primary?

When we produce a good by exploiting natural resources, it is an activity of primary sector. This is because it forms the base for all other products that we subsequently make. Since most of the natural products are from agriculture, dairy, fishing, forestry, this sector is also called agriculture and related sector.

Why is primary sector also called agriculture and allied sector?

Primary sector produces and extract raw materials from natural sources of earth, so that it may be used by secondary sector for there products. It is called agriculture sector because agriculture is the main activity of production for the primary sector so,it called agriculture & allied sector.

What is primary sector and examples?

Primary Sector is that sector of the economy which is concerned with or related to primary economy. It means mining, quarrying, farming, fishing and forestry. These type of industries are called primary sectors as they produce raw materials which are to be processed into a finished product.

What are the 5 economic sectors?

Sectors of the Economy: Primary, Secondary, Tertiary, Quaternary and QuinaryPrimary activities. … Secondary activities. … Tertiary activities. … Quaternary activities. … Quinary activities.

What are primary sector activities?

The primary sector includes all those activities the end purpose of which consists in exploiting natural resources: agriculture, fishing, forestry, mining, deposits.

What is primary secondary and tertiary sector with example?

Primary Sector :- All those economic activities that are undertaken by directly using natural resources are included in primary sector. For example, mining, forestry, fishing, poultry etc. … Tertiary Sector :- These are the activities that help in the development of the primary and secondary sectors.

Why is the tertiary sector the most important?

Better technology and improved labour productivity have enabled a higher output of manufactured goods and agriculture with less labour. This increased productivity has led to: Increased incomes of workers to spend on services. Spare labour to be able to work in the more labour intensive tertiary sector.

What is the other name of tertiary sector?

The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors of the three-sector theory. The others are the secondary sector (approximately the same as manufacturing), and the primary sector (raw materials).

What is the other name of primary secondary and tertiary sector?

The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary).

What is the other name of primary sector Why is it named so?

1 Answer. The primary sector is called as such because it produces goods exploiting natural recourses. Some of the activities of this sector are agriculture, dairy, fishing and forestry.

What is tertiary sector give example?

The tertiary sector of the economy is the service industry. Service companies do not provide a physical good like the primary or secondary sectors do, but they still provide value. For example, banks, insurance and the police all are examples of the service industry.

Is Apple a tertiary sector?

Apple is a secondary, tertiary and quaternary industry. Apple manufacture their own stock, they produce their goods and services at factories where they are made (secondary). … The goods that make are useful transportation, most of their goods come with a GPS and internet(tertiary) .