The modern economy can be divided into three sectors that define the economic development of a specific country or society.
There are three main sectors: Primary, Secondary and Tertiary.
Let’s discover the differences!
Primary Sector. In economics the primary sector is the economic sector that includes all the activities involving for instance agriculture and fishing. These are activities that address the basic needs of human beings and from an historical perspective, these are the first economic activities made by man.
Secondary Sector. In economics, the secondary sector is the economic sector that includes all the various activities of industry such as mining, metallurgical and steel industry, the metalworking industry and so on. In the majority of developed countries, it is characterized by the use of machinery that have high technological content, requiring as a consequence, a low amount of labor.
Tertiary Sector. In economy, the service sector is the economic sector in which they produce or provide services, or all those complementary activities of the primary sector and secondary sector.
It can be traditional (including services which can be traditionally found in every age and culture) and advanced (characteristic of the last decades). For instance, tourism belongs to this sector.