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The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. [ 1 ] [ 2 ] [ 3 ] The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries .
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.
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.
Primary sector – this involves the extraction of resources directly from the Earth, this includes agricultural and resource extraction industries. In these industries, the product (that is, the focus of production) is a natural resource.
Primary sector of the economy (the raw materials industry) Secondary sector of the economy (manufacturing and construction) Tertiary sector of the economy (the "service industry") Quaternary sector of the economy (information services) Quinary sector of the economy (humanitarian services)
Download QR code; Print/export Download as PDF; Printable version; In other projects Wikimedia Commons; ... Economics of primary sector industries (5 C, 2 P)
In economics, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the economy made up by companies". [1] [need quotation to verify] [2] It is a subset of the domestic economy, [3] excluding the economic activities of general government, private households, and non-profit organizations serving individuals. [4]