What is the quaternary sector of the economy?
The Quaternary sector of the economy is sometimes thought of as an extension of the tertiary sector. It in a way involves services but, these are services that have to do with information or technology
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A Quaternary economic activity is an economy that doesn't have to be located near natural resources. Some examples are: Education, Government, Information Processing, and Research.
The computer is very important in a given economy sector because itis efficient and very accurate. A computer helps cut the costs in agiven economy by performing tasks in a high degree of efficiency.
In a three-sector economy consisting of business, households, and government, financial intermediaries such as commercial banks, mutual saving banks, insurance companies, mutual funds, pension funds, and credit unions provide the mechanism for reallocating funds from one surplus sector to a deficit …sector. These institutions indirectly invest excess funds in areas of the economy where funds are needed. ( Full Answer )
Updated By Koh Stone L Nonglait ( NONGSTOIN ) on 02-06-2013 Sectors of the Economy Primary, Secondary, Tertiary, Quaternary, and Quinary By Matt Rosenberg, About.com Guide . See More About: . economic geography . cultural geography . Ads Email from Google Mail.Google.com Stay safe… on the internet! Gmail takes care of your privacy Corbett Tour Packages www.holidayiq.com/Corbett_Packages Get Best Deals on Travel Packages! Book Your Holiday Packages Today. Got your Exam Results? Quikr.com/Free-Classifieds Get Information on Courses, Career Counseling & More here. Sign Up Now. More Geography Ads . Economy . Primary Health Care . The Economy Today . Primary Education . Secondary . Updated January 14, 2007 . A nation's economy can be divided into various sectors to define the proportion of the population engaged in the activity sector. This categorization is seen as a continuum of distance from the natural environment. The continuum starts with the primary sector, which concerns itself with the utilization of raw materials from the earth such as agriculture and mining. From there, the distance from the raw materials of the earth increases. Primary Sector The primary sector of the economy extracts or harvests products from the earth. The primary sector includes the production of raw material and basic foods. Activities associated with the primary sector include agriculture (both subsistence and commercial), mining, forestry, farming, grazing, hunting and gathering, fishing, and quarrying. The packaging and processing of the raw material associated with this sector is also considered to be part of this sector. In developed and developing countries, a decreasing proportion of workers are involved in the primary sector. About 3% of the U.S. labor force is engaged in primary sector activity today, while more than two-thirds of the labor force were primary sector workers in the mid-nineteenth century. Secondary Sector The secondary sector of the economy manufactures finished goods. All of manufacturing, processing, and construction lies within the secondary sector. Activities associated with the secondary sector include metal working and smelting, automobile production, textile production, chemical and engineering industries, aerospace manufacturing, energy utilities, engineering, breweries and bottlers, construction, and shipbuilding. Tertiary Sector The tertiary sector of the economy is the service industry. This sector provides services to the general population and to businesses. Activities associated with this sector include retail and wholesale sales, transportation and distribution, entertainment (movies, television, radio, music, theater, etc.), restaurants, clerical services, media, tourism, insurance, banking, healthcare, and law. In most developed and developing countries, a growing proportion of workers are devoted to the tertiary sector. In the U.S., more than 80% of the labor force are tertiary workers.. ( Full Answer )
the sectors which are going to see an upsurge in the coming decade are the energy sector, real estate sector, services sector, and the boifuel sector.
The two sector model consists of the: Household Sector: The household sector includes everyone in an economy who consumes goods and services. Business Sector: The business sector contains the private, profit-seeking firms in the economy that combine scarce resources into the production of wants…-and-needs satisfying goods and services. ( Full Answer )
\nPrimary sector: producing raw materials (Ex: farming, fishing, ranching, mining, or clearing forests)\n. \nSecondary sector: transforming raw materials into finished products (Ex: factory workers turn wood into furniture, or steel into railroad tracks)\n. \nTertiary sector: service work (Ex…: sales, consulting, advertising) ( Full Answer )
The private sector has played a vital role in the development ofthe Indian economy. An example is foreign direct investment.Previously, the Indian economy was managed by governmententerprises.
Among the ways that insurance positively affects the economy and the industries that comprise it is by its fundamental namture. That is, an insurance policy, by its nature, "assumes the risk" of loss of fortuitous events. Stated otherwise, an insurance contract serves to indemnify the insured from t…he economic consequences of foreseeable occurrences. In return for the payment of a premium, the insurer becomes financially responsible for the damages sustained by a third party (or by the insured itself in the case of first-party insurance) as a result of an occurrence that is within the ambit of policy coverage. Were it not for insurance, a business enterprise would ordinarily responsible, from its own assets, for all such financial losses. Therefore, the protection that insurance affords protects the insured from that risk and allows it to allocate assets to business expansion or for other purposes. ( Full Answer )
recession : definition recession : origin of recession recession : impact of recession on Indian economy recession : suggestion recession : opportunity
In fact there are three main types of sectors in the UK: 1. The primary sector (raw materialism) 2. The secondary sector > aka. the manufacturing sector (turns raw materials from the primary sector into goods) 3. Tertiary sector > aka the service sector (producing services > for example education) … According to recent figures + the fact you can see in daily life in the UK it is said that the 3rd sector is the fastest growing sector of the UK economy. But still the question remains of why? With rising incomes, consumers spend a larger and larger proportion of their incomes on services such as health, education and financial services. So we can conclude that it is all about the income people get and that they spend a larger proportion each time on the big subgroups in the service sector. ( Full Answer )
Source of government revenue:petroluem has contributed greatly to the major source of revenue available to the governmen
The tertiary sector of the economy of the United States is theservice sector. The jobs include the hospitality industry and allthe related fields.
The relevance of the private sector in the economy is to supplementthe government. The private sector helps grow the economy bycreating job opportunities in a given economy.
There has been a great contribution of insurance sector in Indianeconomy. This has created more jobs and people are taking greaterrisks in investing and expanding business due to their insurancecovers which has boosted the economy.
The tertiary sector of the American economy is the sector alsoknown as the service sector. Some jobs in the tertiary sector aretourism, hospitality, government, healthcare, and retail.
The economy can be classified on the basis of ownership: Public sector: . It includes all those economic activities that are owned and managed by government agencies. . Major activities are social security services, managing national defenses and administering public transportations. Priv…ate sector: . Involves economic activities that are managed by private institutions. . Profit making is its sole purpose. However, some exceptions are possible and functional in the sector. Voluntary sector: . Known as the third sector or the civic sector. . It includes those social activities that are undertaken by non- governmental and non- profit organizations. . Includes various political parties, volunteer communities and religious and charitable organizations. Another economic sector is the quaternary sector. It covers various intellectual activities in an economy related to: . culture . government . scientific research . Information technology The behavior and economic importance of different sectors vary from one another. A particular sector may be more dominant in a nation than others. The contribution of primary and public sectors is more evident in under-developed economies than developed nations. ( Full Answer )
Anything that is service related. Examples: teacher, doctor, lawyer, banker, baker, police officer, crossing guard, etc. Primary sector involves the extraction of natural resources directly. Examples: farmer, fisherman, lumberjack, miner, etc. Secondary sector involves the manufacturing of nat…ural resources (typically into a different product). Examples: factory worker, construction, building, food processing, etc. An easy way to think about it is to take a finished product that can be readily bought, like paper. The primary sector of paper would be the cutting down of trees. The secondary sector would be the manufacturing of trees into paper. The tertiary sector would be the consumer purchasing paper from retail outlet. This can be easily understood using different products like orange juice, ground beef/steak, soda (that contains high fructose corn syrup), etc. ( Full Answer )
The present importance of tertiary sector is the highest among all sector and may be understood as follows:India's economic output is represented by the primary sector(agriculture and mining), the secondary sector (manufacturing-organised and unorganised) and the tertiary sector(transportation, cons…truction and other services like construction, retailing, communication, financial services, health care, education and other). The primary sector, secondary sector and tertiary sectors account for 25%, 24% and 51% of the GDP respectively. Unfortunately the common man (because of ignorance), the politicians (because of lack of education and poor quality brains) and the economists (because of ideological blindness) do not understand the importance of the tertiary sector in economic development. As an economy grows prosperous, its people do not require more and more of agricultureal crops and manufactured output. The higher the productivity in primary and secondary sector and lower the employment in these sectors, the better it is. Because people need more of services rather than physical goods for better quality life. They need more of tarnsport (riad, air,sea, water, rail), more of communication ( mobiles, internet, ), more of education, more of training, more of healthcare, doctors, nurses, hospitals, diagnostic centres, more of entertainment (TV shos, movies, ) more technicians and artisans for repair and maintance of buildings, houses, household equipments, plumbers, electicians, swerage systems, more courier services, more banks, ATMs, more organised shopping malls, car parkings, and so on. Income and employment growth f lies in the tertiary sector. Tertiary sector includes scientific reseach and innovations that increases productivity and provide engineering and construction consultancy support services for all projects in all sectors. It is foolish to think the economies will continuously grow wioth primary and secondary sectors retaining the same importance or weight in the economy. Most advanced and rich copuntries have more than 80% of emplyment and income in the services sector. In the US, agriculture is less than 1%. This is no natural and can be understood by even children if they think logically that Indians still have doubts in their mind. Just imagine you do not need vety large increase in food, clothes, shelter and machines as you grow rich: you consume more of services, education, newspaper, entertainment, medical services, travel and tourism, hotels and restaurants, high technolgy. So, that is where the growth lies. Indians ( Full Answer )
Real Sector . The Real sector encompasses activities related to the aggregate supply and aggregate demand in an economy. . Data on this sector cover gross domestic and national product, consumption, savings, and capital formation. Demographic features of the population and labour force characteri…stics are closely associated with both aggregate demand and supply. Further, developments in the above areas are reflected in the movements of wages and prices at different stages from production to consumption. . Accordingly, data covering all these areas are provided under this sector. ( Full Answer )
Service sector is the revenue earner in Indian economy. They work to ensure good quality service and satisfy foreign clients from all over the world who come back with newer projects . So more work opportunities and more money . More money means more growth of company and if such companies grow they… result in global growth for Indian economy . The service sector employs about 30 % of Indian workforce , yet provides about half of its output. It is one of the 3 main sectors. The service sector is a supporting arm for the other 2 core sectors to make them flourish in their areas. ( Full Answer )
the business activity of financial intermediaries contributes to profits the economy bags as well as businesses in all other business related markets. these activities helps the economy to grow
Industries of a country represent the Secondary Sector. Egs: iron industry, textile industry, pharmaceutical industry etc.
The cooperative sector can be defined as that sector of the economy carried out by cooperatives, defined by the International Cooperative Alliance as "autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owne…d and democratically-controlled enterprise." The cooperative sector is distinguished from the state or public sector, which is carried out by the State and its instrumentalities including public corporations, and to the so-called private sector, which is carried out by private individuals and organizations. ( Full Answer )
1) PRIMARY SECTOR OF THE ECONOMY: Involves the extraction and production of raw materials, such as corn, coal, wood and iron. (A coal miner and a fisherman would be workers in the primary sector.) 2) SECONDARY SECTOR OF THE ECONOMY: Involves the transformation of raw or intermediate materials into …goods e.g. manufacturing steel into cars, or textiles into clothing. ( A builder and a dressmaker would be workers in the secondary sector.) 3) TERTIARY SECTOR OF THE ECONOMY: Involves the provision of services to consumers and businesses, such as baby-sitting, cinema and banking. ( A shopkeeper and an accountant would be workers in the tertiary sector.) 4) QUATERNARY SECTOR OF THE ECONOMY: Involves the research and development needed to produce products from natural resources. ( A logging company might research ways to use partially burnt wood to be processed so that the undamaged portions of it can be made into pulp for paper.) Note that education is sometimes included in this sector. ( Full Answer )
The service part of the economy has grown by leaps and bounds. Technology has also really grown.
It is becoming important because the population is higher and more people need the services provided. Without it society would collapse
The sector of an economy making direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas. This is contrasted with the secondary sector, producing manufactures and other processed goods, and the tertiary sector, producing services. The pr…imary sector is usually most important in less developed countries, and typically less important in industrial countries. ( Full Answer )
The tertiary economic sector focuses on the distribution and servicing of finished products (from the secondary sector). Occupations include merchants, salesmen, and grocers.
Just about every job that is not involved in manufacturing or mining or agriculture. Service jobs is your answer. people who provide services and goods to end users. This ranges from butcher, baker, to candle-stick maker. Taxi & truck drivers, teachers, entertainers, professionals of all sorts, fr…om the medical field, to the arts, & sciences. construction workers, appraisers, mtg lenders, atty's, real estate brokers. Sanitation workers & pizza cooks. This has become the biggest sector in our economy, and any advanced 1st world country. ( Full Answer )
The information sector of the service industry is the fastest-growing sector in the economy. Included within this sector is the software publishing industry.
Small businesses employ about 50 percent of all private sector workers. Home-based businesses account for 53 percent of all small businesses. The latest figures show that small businesses create 75 percent of the net new jobs in our economy.
The Primary sector of the economy is the change of natural resources into primary products, it is the first step followed by the secondary and tertiary sectors. Most products from this sector provides raw materials for other industries.
SECTORS Primary Sector When the economic activity depends mainly on exploitation of natural resources then that activity comes under the primary sector. Agriculture and agriculture related activities are the primary sectors of economy. Secondary Sector When the main activity involves man…ufacturing then it is the secondary sector. All industrial production where physical goods are produced come under the secondary sector. Tertiary Sector When the activity involves providing intangible goods like services then this is part of the tertiary sector. Financial services, management consultancy, telephony and IT are good examples of service sector. Evolution of an Economy from Primary Sector Based to Tertiary Sector Based During early civilization all economic activity was in primary sector. When the food production became surplus people's need for other products increased. This led to the development of secondary sector. The growth of secondary sector spread its influence during industrial revolution in nineteenth century. After growth of economic activity a support system was the need to facilitate the industrial activity. Certain sectors like transport and finance play an important role in supporting the industrial activity. Moreover, more shops were needed to provide goods in people's neighbourhood. Ultimately, other services like tuition, administrative support developed. Interdependency of Sectors: To understand this interdependency, let us take an example of a cold drink. A cold drink contains water, sugar and artificial flavour. Suppose if there is no sugarcane production then procuring sugar will become difficult and costly for the cold drink manufacturer. Now to transport sugarcane to sugar mills and sugar to the cold drink plant needs the services of a transporter. A person or system of persons is required to maintain and monitor all these movements of goods from farm to factory to shop in different locations. That is where role of administrative staffs comes. Let us go back to the farmer. He also needs fertiliser and seeds which is processed in some factory and which will be delivered to his doorstep by some means of transportation. To top it all at every step of these activities we require the proper monetary and banking system. So, in a nutshell this describes how interrelated all sectors of an economy are. ( Full Answer )
How do you count various goods and services and know the total production in each sector of economy?
as thousands of goods and services are produced, it is an enormoustask to add up all these . To get to this problem economistssuggested that the value of goods and sevices should be used ratherthan adding the actual numbers. But only one precaution is to beundertaken i.e., only the final value of th…e goods and servicesshould be counted as it already includes the value of allintermediate goods. ( Full Answer )
four sectors of my economy is gas prices safety intelligence and peeing ok bye me peeps by the way this is wrong yeah yah
Agriculture is important in the economy because it is the sector that produces food. Food is our basic need. Take Asians who eat rice, they are going to continue eating rice no matter how expensive it becomes. They're not going to stop consuming rice because its price is increasing. Our economic dec…isions are mostly unaffected when it comes to basic needs (food) that stems from agriculture hence its importance. ( Full Answer )
All these sectors (industrial, agricultural, and other trades)contribute to the economy of Nigeria, but industry is currently thelargest contributor.
Why is it that people with a different are unemployable in certain sectors of the economy and not in others?
Is because those people they were not exposed in lots of things among the sectors.They did not get chance to be trained because of affirmative action.This policy blocked people opportunuties by appling races.
Why is it that people with different are unemployable in certain sector of the economy and not in others?
In order to gain employment in a particular sector, the applicantmust have qualifying skills for that industry. If not, they will beunemployable in that sector and must choose something more in tunewith their skill set.
Why is it that people from a different racial group are unemployable in certain sectors of the economy?
It is true that racial discrimination still exists in our world, however, a person who is genuinely good at his or her work, is not unemployable, regardless of what racial group he or she may belong to.
Why is it that people from different racial groups are unemployable in certain sectors of the economy and not in others?
its because of the gualification .and u cant hire a person with the disability at a mining for blasting
Why is it that people from a different racial groups are unemployed in certain sectors of the economy and not in others?
People from a different racial groups are unemployed in certainsectors of the economy and not in others as a result ofdiscrimination. Racial discrimination makes some racial groups tofeel superior over others.
Why is it that people with a different are unemployed in certain sectors of the economy and not in others?
advocacy groups for and against the policy and act have perform as part of regular procedure that the policy is unsettling , needless and discriminatory, on the other hand , while others ague forcefully that the amelioration of the past injustices justifies its implementation. Whichever side is on t…he ascendancy cannot take the other side's viewpoint, and in the end the past divisions are set to continue. ( Full Answer )
Some people in the economy are not legal to work where they aretrying to find employment, as they may be from a different country.These people find under-the-table paying jobs, which causes lessjobs for people that can legally work.
I'll have to make a few assumptions here: A. BP is British Petroleum; B. BP drills for oil in Country ABC; and C. BP sells oil to Country XYZ. In this scenario the oil BP sells in ABC is listed as an export product. If specific to oil and not oil products or gas, then it's Oil under exports.
In a Three-sector economy ,along with the household sector& business sector there is government sector too.Because thegovernment can influence on the circular flow of income in 2ways.1.It collects taxes[=T] from households & firms,and2.itmakes various payments [=G] to household & businesssectors.Her…e taxes can be taken as a lekage & governmentexpenditure as an injection. ( Full Answer )
In modern world economic field is not a closed one.Each& every country engaged in foreign trade. Each country imports& export goods & services from other countries. So in afour- sector economy we consider about importing & exporting toalong with household sector,business sector,financial sector &gov…ernment sector. ( Full Answer )
Not necessarily, but it's common. Take for instance the United Kingdom: it began with a large primary sector, moved towards a large secondary sector and now has a large tertiary sector.. It definitely improves the national economy (GDP), but on an international level the question of competing econo…mies rises. That's why a large tertiary sector can improve an economy, but it depends on the specific circumstances of the global market.. ( Full Answer )
What was the result of direct foreign investments in the financial sectors of emerging economies in the 1990's?
The result of direct foriegn investments in the financial sectorsof emerging economies in the 1990's was that the majority of banksin such countries were primarily owned by foreign institutions. Asan example, the Demise of the Soviet Union brought on, in manyEastern European countries, the ownership… of many banks ontrolledby foreign institutions. To a degree this had a negative affect onthe publics view of their banking systems. ( Full Answer )