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

6429 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

What are the two different types of circular flow of income models?


What is the difference between an inferior good and a normal good?


What makes the Production Possibility Frontier shift to the right?


Explain the possible effect on consumers and producers when a specific tax is imposed on cigarettes.


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