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Economic sector facts for kids

Kids Encyclopedia Facts

Economic sectors are large groups of the economy, grouped according to their place in the production chain, by their kind of work (product or service) or ownership.

One method is by the three-sector hypothesis:

  1. Primary sector extracts natural materials and provides raw materials for secondary industry.
  2. Secondary sector processes raw materials or semi-finished goods into more valuable products.
  3. Tertiary sector is the provision of services.
  4. Some economists like to list a Quaternary sector as related to application, manipulation and transmission of information.

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Economic sector Facts for Kids. Kiddle Encyclopedia.