Sectors of Production

Tuesday, February 05, 2013

There are three main sectors of production. They are Primary, Secondary and Tertiary sector.

1. Primary Sector
  • It carries out the first stage of production
  • It extracts raw materials
  • Examples include fishing, farming, mining etc
  • It is sometimes called as Extractive or Primary Industry

2. Secondary Sector
  • It carries out the second stage of production
  • It converts raw materials into semi-finished or finished goods
  • Examples include production of cars, furniture etc
  • It has two main industries namely Manufacturing Industry and Construction Industry
  • It is sometimes called as Secondary Industries

3. Tertiary Sector
  • It provides services to other industries
  • It includes both direct and indirect services
  • Examples include banking, warehousing, retailing etc
  • It is also known as Service Industry or Tertiary Industry
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