What is the meaning of sectors?
What Is a Sector? A sector is an area of the economy in which businesses share the same or related business activity, product, or service. Sectors represent a large grouping of companies with similar business activities, such as the extraction of natural resources and agriculture.
- Agriculture; plantations;other rural sectors.
- Basic Metal Production.
- Chemical industries.
- Commerce.
- Construction.
- Education.
- Financial services; professional services.
- Food; drink; tobacco.
There are four types of sector groupings in the economy: primary, secondary, tertiary, and quaternary.
A sector includes manufacturing, commercial or service enterprises which have the same main business (in respect to the classification of economic activities considered).
More often, the economy is divided into three sectors: the primary, secondary, and tertiary sectors.
The three sectors of our economy -- private, public and non-profit -- are inextricably intertwined.
- region.
- section.
- district.
- zone.
- quarter.
- precinct.
- locality.
- scene.
Noun He was assigned to the northern sector. Data is stored on the disk in 512-byte sectors.
The four sectors in American society are Government, For Profit or Business, the Nonprofit, and the Family. While we often think of these as separate entities, they are often inter- dependent. Following is a brief description of each of the four sectors in American Society.
Sectors of the Economy: Primary, Secondary, Tertiary, Quaternary and Quinary.
What does primary sector mean?
The primary sector includes all those activities the end purpose of which consists in exploiting natural resources: agriculture, fishing, forestry, mining, deposits.
1 ) Primary sector - It produces raw goods for the secondary sector and is the main source of food and other important natural resources . It includes agriculture and related activities . It provides employment to a large number of people .
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary).
The nine sectors are: 1) women, 2) youth, 3) children, 4) senior citizens, 5) individuals residing in urban areas, 6) migrant and formal sector workers, 7) farmers, 8) fishermen and 9) self-employed and unpaid family workers as proxy indicator for the workers in the informal sector.
- Energy.
- Materials.
- Industrials.
- Utilities.
- Healthcare.
- Financials.
- Consumer Discretionary.
- Consumer Staples.
In India, the largest of the 4 sectors in terms of contribution to the GDP of the nation is the services sector.
Unlike conventional misconception, what many people call “an industry” is in fact called “a sector”. There are 11 sectors based on the Global Industry Classification Standard (GICS):
Abstract. The real sector of an economy is the key section as activities of this sector persuade economic output and is represented by those economic segments that are essential for the progress of GDP of the economy.
The order of the 11 sectors based on size is as follows: Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.
Word Origin. (in sense (3)): from late Latin, a technical use of Latin sector 'cutter', from sect- 'cut off', from the verb secare.
What does sector mean in school?
School Sector means for non-government systemic schools for which the approved school system is a Catholic education authority all schools of that kind and in any other case school sector means all other non-government non-systemic schools and all other non-government systemic schools; Sample 1.
sector (n.)
1560s, in geometry, "a section of a circle between two radii," from Late Latin sector "section of a circle," in classical Latin "a cutter, one who cuts," from sectus, past participle of secare "to cut" (from PIE root *sek- "to cut").
The formula for the area of the sector of a circle is 𝜃/360o (𝜋r2) where r is the radius of the circle and 𝜃 is the angle of the sector.
The 3 main sectors of the economy are primary, secondary and tertiary sectors. Manufacturing comes under the secondary sector, extraction of raw materials industries comes under the primary sector of the economy and the services industry comes in the tertiary sector of the economy.
They are three sectors in the Indian economy, they are; primary economy, secondary economy, and tertiary economy. In terms of operations, the Indian economy is divided into organized and unorganized. While for ownership, it is divided into the public sector and the private sector.
The social sector is usually defined as dealing with social and economic activities carried out for the purposes of benefiting society, and in the main nonprofit, not-for-profit, philanthropic and mission based and nongovernmental organizations are associated with this sector.
Sectors and industries
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.
12 popular types of industries in India.
- Primary sector.
- Secondary sector.
- Tertiary sector.
- Quaternary sector.
Heavy manufacturing, light manufacturing, food processing, oil refining, and energy generation are examples of secondary industries.
What is the main difference between secondary and tertiary sector?
| Primary Sector | Secondary Sector | Tertiary Sector |
|---|---|---|
| This sector provides raw materials for goods and services | This sector transforms one good into another by creating more utility from it | The tertiary sector provides useful services for the primary and secondary sectors |
The secondary sector covers all those activities consisting in varying degrees of processing of raw materials (manufacturing, construction industries).
The primary sector is a base for most of the other products that we subsequently make. Since most of the natural products we get are from agriculture and related sector, the development of this sector leads to the development of services such as transport, trade, storage and the like.
The service sector has become the most important in terms of total production. Most of the working people are also employed in the service sector. This is the general pattern observed in developed countries.
Tertiary Sector
This sector is generally known as the service sector, and it is crucial for the development of the primary and secondary sectors.
The primary sector includes the basic industries for providing basic materials to other industries. The secondary sector includes industries that use basic materials to form new and improved materials. The tertiary sector includes industries that supply the materials made by the secondary industries to the consumers.
It includes transportation, storage, marketing and sale of products. Other services include banking and communication. These sectors are necessary to aid production while themselves deriving their sustenance from it. Thus, it can be concluded that all three sectors of the economy are interdependent.
'Third sector organisations' is a term used to describe the range of organisations that are neither public sector nor private sector.
- Agriculture. Sustaining growth in agriculture is highly important to developing markets, where the sector is a primary source of livelihood. ...
- Health & Education. ...
- Manufacturing. ...
- Retail & consumer goods. ...
- Financial services. ...
- Transport & communications.
The 12 sectors are youth, parents, business, media, school, youth-serving organizations, law enforcement, religious or fraternal organizations, civic or volunteer groups, healthcare professionals, state or local agencies, and other local organizations.
What are the 8 core sectors?
ICI measures combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
- Energy.
- Materials.
- Industrials.
- Consumer Discretionary.
- Consumer Staples.
- Health Care.
- Financials.
- Information Technology.
While industry and sector are both used to describe parts of the economy, the term industry specifically refers to a group of companies that produce similar products or services, whereas a sector is a broader classification that groups together industries with similar characteristics.
GICS breaks out the world's companies into the 11 highest level categories, described in greater detail below. These 11 sectors are broken down further into 24 industry groups, 68 industries, and 157 sub-industries. This method concentrates on grouping companies based on their primary business activity.
A four-sector model of economy includes households, businesses, government, and foreign trade. In four-sector economy, exports are the injections in the national income, while import act as leakages or outflows of national income.
- 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 (human services)
The four sectors in American society are Government, For Profit or Business, the Nonprofit, and the Family. While we often think of these as separate entities, they are often inter- dependent. Following is a brief description of each of the four sectors in American Society.
