Economic Sectors

Primary Sector:
• Involves extraction or harvesting of raw materials like farming, mining, and fishing.
• Often labor-intensive, with low education levels.
• Technology often replaces manual labor, leading to job losses for the 'unskilled'.

Secondary Sector:
• Turns extracted materials into manufactured goods, including car manufacturers, textile production, and engineering.
• Businesses include car manufacturers, textile production, and bottling products.

Tertiary Sector:
• Sells goods and services, including retail, distribution, and entertainment businesses.

Quaternary Sector:
• Comprises intellectual activities and knowledge-based activities aimed at future growth and development.
• Activities include scientific research, education, consulting, information management, and financial planning.

Quinary Sector:
• Refers to decision-making at the highest levels of society, including government level decisions, top management operations, and universities.