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In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction .
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.
Economic impact analyses usually employ one of two methods for determining impacts. The first is an input-output model (I/O model) for analyzing the regional economy. These models rely on inter-industry data to determine how effects in one industry will impact other sectors. In addition, I/O models also estimate the share of each industry's ...
[1] [citation needed] It divides the economy into two parts, called the "primary" and "secondary" sectors. The distinction may also be drawn between formal/informal sectors or sectors with high/low value-added. A broader concept is that of labour market segmentation. While the word "dual" implies a division into two parallel markets ...
Download as PDF; Printable version; ... Documentary television series about industry (1 C, 39 P) E. ... Pages in category "Secondary sector of the economy"
Labor market segmentation is the division of the labor market according to a principle such as occupation, geography and industry. [1]One type of segmentation is to define groups "with little or no crossover capability", such that members of one segment cannot easily join another segment. [2]
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, the fraction of a society's activities within each sector changes.
Percentages of a country's economy made up by different sectors. Countries with higher levels of socio-economic development tend to have proportionally less of their economies operating in the primary and secondary sectors and more emphasis on the tertiary sector. The less developed countries exhibit the inverse pattern.