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

5766 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

Why are UK government gilt (bond) yields rising and why is that bad?


Why might expansionary demand side policies not always be effective in promoting economic growth?


Explain two benefits to the government that falling unemployment provides.


Define what market failure is and identify an example of market failure, explaining fully why it is a relevant example.


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