What is meant by the different sectors of economies?

Economies are made up of three sectors; the primary sector, which involves extraction of raw materials (e.g. timber), the secondary sector, which is concerned with manufacturing (e.g. turning timber into chairs), and the tertiary sector, which provides services to people (e.g. a haircut). The relative sizes of these sectors often reflect the economy's development level; economies of developed countries such as the UK have a large tertiary sector, a declining secondary sector, and a small primary sector, whereas developing countries often have a large secondary sector, and less developed countries may have a large primary sector.

LW
Answered by Liora W. Economics tutor

5660 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

What's the difference between movements along and shifts in the demand curve?


Explain one possible reason why average cost per unit may increase as the output level of a business increases.


Why do price of exchange rates increase when interest rates increase? What does it mean that a currency is strong?


Describe with a real world example, price elasticity of demand


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2026 by IXL Learning