People Engaged in the Tertiary Activities

A country’s economy is divided into three primary, secondary, and tertiary sectors. The tertiary sector of the economy includes a range of activities such as administration, financial and real estate activities, transportation education, health business, personal services, and social services. The tertiary activities of the economy include all these business sectors. In this article, we will discuss the people engaged in tertiary activities. 

The tertiary activities sector is briefly divided into the market service sector and the non-market service sector.

What are sectors of the economy?

A sector can be defined as the region of the economy where businesses share common or related activities, services, and products. A sector is a place that represents a large number of companies with the same or similar types of business projects.

It has become easier for economists to examine the economic activity with separate sectors of a vast economy. Sector analysis provides crisp and detailed information on the economy, whether it is growing or expanding, or if the regions of the economy are facing loss and becoming a liability or experiencing contraction and turning out as an asset.

Financial markets have several sub-sectors known as investment sectors. 

Investment sectors function as companies with common goals or business activities. Technology, financial services, and energy are examples of Investment sectors.

Economists classify certain economic activities with common interests or goals with the help of this sector theory. For example, some companies or any sector is involved in activities that deal with a production cycle of the earliest stage, such as raw materials. In contrast, the other sectors or companies produce items and consume that raw material.

Originating economies tend to be committed to only one or two sectors for most business activities. Although there are misconceptions or debates about how many sectors are present in society or represent society’s economy. Mainly sectors are divided into four different parts, namely;

Primary sector

The primary sector pertains to the collection of companies with a similar goal of harvesting and extracting natural products recovered from the Earth. The companies in primary sectors are focused on economic activities that use the Earth’s natural resources. These resources are then sold to commercial businesses or customers.

The companies that indulge in making or packaging the product are also included in the primary sectors.

• Agriculture

• Forestry

• Hunting

• Fishing

Companies just beginning or emerging economies have a much higher economic activity and better employment within the primary sector than advanced economies.

Secondary sector 

The secondary sector includes the activities performed as an addition to the primary activities, which often results in secondary production.

Tertiary activities sector 

The tertiary sector of the economy is a constantly developing and growing sector that comprises production and exchange between two parties. This production and exchange can be of certain items and values per market requirements. Tertiary activities are not directly linked with producing raw items. They generally utilise the already processed items to furnish them with a new helpful item, commodity, or service. Now that you have understood the concept of primary and secondary sectors let’s move on to the concept of tertiary sectors and discuss it in detail.

The market service sector 

The market service sector includes services that include market activities like trade, financial operations, business services, transport accommodation, food service activities, personal services, information communication, and real estate.

The non-market service sector

The non-market service sector comprises social work activities, public administration, human health, and educational activities. This sector includes activities that are not directly connected to the market activities and often indirectly refers to the development of society both financially and in terms of values.

People involved in tertiary activities

The tertiary activities sector is growing nowadays compared to the primary and secondary activities sector. The main difference with tertiary sector activities includes producing and exchanging items and values. The tertiary activities of the commercial output of service are in place of the production of consumable goods. The people involved in tertiary activities are not directly involved in processing raw materials. Here are a few examples of people who work in the tertiary activities sector

• Plumber 

• Electrician

• Technician

• Launderer

• Barber

• Shopkeeper

• Driver

• Cashier 

• Teacher

• Lawyer

• Publisher

• Builder and many others.

Conclusion

There are three sectors of the economy, namely primary, secondary, and tertiary. All these sectors together comprise the economy of a country. The primary and secondary sectors of the economy are only concerned with the production of goods. In contrast, the tertiary sector of the economy includes both production and utilisation and consumption of goods. The people working in the tertiary sector often include two different sectors, namely the market and non-market sectors. This article has discussed the people working in the tertiary activities sector.