#businessstudies #economicactivity
There are three main economic activity primary sector, secondary sector , and tertiary sector
Primary Sector:
Involves activities that extract or harvest natural resources.
Examples: farming (agriculture), mining, fishing, forestry, and oil extraction.
Products from this sector are raw materials used in other industries.
Secondary Sector:
Focuses on the manufacturing and processing of raw materials into finished or semi-finished products.
Examples: car production, construction, and food processing.
This sector adds value to raw materials through industrial processes and manufacturing.
Tertiary Sector:
Involves providing services to individuals and businesses.
Examples: retailing, banking, healthcare, education, and transportation.
This sector supports and facilitates the other sectors and includes most jobs in modern economies.