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Three sectors according to Fourastié Clark's sector model. One classical breakdown of economic activity distinguishes three sectors: [1] Primary: involves the retrieval and production of raw-material commodities, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector.
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
The economy of the United States is divided into economic sectors. The North American Industry Classification System (NAICS) was developed in 1997 and is used by the United States Census Bureau and U.S. Securities Exchange Commission (SEC).
Economic activities can be classified in a variety of ways. At the top level, they are often classified according to the three-sector theory into sectors: primary (extraction and agriculture), secondary (manufacturing), and tertiary (services). Some authors add quaternary (knowledge) or even quinary (culture and research) sectors. Over time ...
Download as PDF; Printable version; In other projects ... Pages in category "Economic sectors" The following 13 pages are in this category, out of 13 total.
The three-sector model adds the government sector to the two-sector model. [17] [18] Thus, the three-sector model includes (1) households, (2) firms, and (3) government. It excludes the financial sector and the foreign sector. The government sector consists of the economic activities of local, state and federal governments.
Download QR code; Print/export Download as PDF; ... move to sidebar hide. Economic sectors; Three-sector model; Primary sector (raw materials) Secondary sector ...
However, the balanced growth theory involves the creation of a brand new, self-sufficient modern industrial economy being laid over a stagnant, self-sufficient traditional economy. Thus, there is no transformation. [12] In reality, a dual economy will come into existence, where two separate economic sectors will begin to coexist in one country ...