Question:

Differenciate economic sector to economic activities?

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  1. service

      -food service

        -prepared food services

          -restaurants

            -fast food


  2. The economy may be classified into subdivisions called several sectors (also called industries) in several ways. Sectors may be further subdivided into subsectors.When classified based on the stage in the production chain, there are three major broad sectors in modern economies:

    Primary sector: 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.)

    Secondary sector: 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.)

    Tertiary sector: 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.)

    economic activity is on the supply side of the labour market framework. Some countries refer to 'participation' to mean precisely the same as economic activity .

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