primary, secondary, tertiary, quaternary

primary

part of the economy engaged in the extraction or production of raw materials like extraction, mining, farming, fishing, and hunting

secondary

part of the economy engaged in manufacturing and assembling raw materials into finished goods by adding value. They take many forms like durables, non-durables, and capital

tertiary

part of the economy engaged in the delivery of services such as banking, healthcare, and restaurants. It has a growing importance in developed countries

quarternary

part of the economy engaged in the production, processing, and transmission of information. it is the provision of knowledge-focused systems

chain of production

steps through the different sectors that have to occur in order to turn raw materials into a consumer good that is marketed.

sectoral change:

as economies grow and develop, many of the firms within that economy will change their sector of operation. there are higher levels of profit in each subsequent sector

less-developed economies

primary sector dominates in less-developed economies. most workers are in agriculture and food production. there is low education and limited infrastructure. therefore, it limits the growth of manufacturing and services, so secondary sector is small.

emerging economies

secondary sector grows due to increased technology, decreasing the need for workers. because of the lower labor costs, businesses relocate production facilities to emerging economies. there is some growth of tertiary and quaternary due to the rising income and development leading to increased demand for customer service and information industries. resource pressure increases because of the increase in demand for skilled workers and financial resources. the weak environmental legislations can allow manufacturing businesses to cause greater environmental harm.

developed economies

tertiary and quaternary sectors dominate. with an increase in wealth, there is an increase in advanced education and specialized training. there is a decline in primary sectors. this can make occupations obsolete while creating new, high-skilled jobs