Businesses operate in various industries or markets. In every industry, one or more companies operate. They compete with each other directly. For
Economic Sector
How Does The Government Play A Role In The Economy?
The government sector is one of four economic sectors in addition to the household sector, the business sector, and the
External Sector: Its Effect on the Economy
What's it: The external sector refers to economic actors located outside the country. They include foreign households, foreign businesses, and
Household Sector: Definition and Role in the Economy
What's it: The household sector includes individuals or groups of individuals. A household may consist of one or several people who live in the
Macroeconomic Sector: Types, Roles
What's it: Macroeconomic sector is an aggregate group representing economic actors. Economists divide it into four groups: household, business,
Government Sector: Meaning, Budget, and Impact on the Economy
What's it: Government sector includes all institutional units consisting of the central government, state governments, and local governments.
Economic Sector and Its Classification
Economic sector refers to a collection of various similar economic activities. Similarities vary depending on the classification we use. It could be
Tertiary Sector: Examples and Its Contribution to the Economy and Employment
What's it: The tertiary sector includes service businesses. They perform tasks or other work to help others. Their services are essential for
Secondary Sector: Know More Its Activities and Contribution to the Economy
What’s it: The secondary sector includes manufacturing and construction activities. Manufacturing involves processing inputs such as raw
Quaternary Sector: Examples, Contributions, and How It Grows
What's it: The quaternary sector is an economic sector with primarily knowledge-based and intellectual services. In the three-sector
Primary Sector: Output and Economic Activities Involved
What’s it: The primary sector is the economic sector directly extracting natural resources. It includes agriculture, plantation, forestry,
Business Sector: Roles, Ownership, and Types
What's it: The business sector is a private economic actor dealing with producing goods or providing services. It covers all businesses, from