A sector is an area of the economy in which businesses share the same or a related product or service. A primitive economy will primarily be based on the primary sector – with most people employed in agriculture and the production of food as an economy develops, improved technology enables less labour to be needed in the primary sector and allows more workers to produce manufactured goods further.
Four sectors of the economy are the primary sector, the secondary sector, the tertiary sector and the quaternary sector the various sectors are defined by population engagement and by relationship. The modern economy can be divided into three sectors that reflect the economic development of that society this lesson will discuss and explore.
Definition of the primary sector - what it is the importance of primary sector and issues involved the primary sector is concerned with the extraction of raw materials. The three-sector theory is an economic theory which divides economies into three sectors of activity: extraction of raw materials primary sector of the economy.
Without wasting your time, below are the list of industries and sectors of the economy a list of industries and sectors of the economy the primary sector.