Tertiary sector article about tertiary sector by the. Tertiary sources are a good way to get a quick overview of any given topic. It involves the provision of services to other businesses or people. Definition and synonyms of tertiary from the online english dictionary from macmillan education. The tertiary sector consists of industries which provide a service, such as transportation and finance. The primary sector are the organisations that are involved in the use of natural resources through extraction, growing and collection of raw materials such as mining, quarrying, fishing and exploration. The biggest area of expansion in the tertiary sector in the uk has been in financial and business services. This sector is involved with gathering the raw materials from which everything else is made. Services generate around 70 % of the eus gdp and employment. The primary, secondary and tertiary sectors represent various business types and the goods they produce and sell. Tertiary sector definition and meaning collins english dictionary. They can also involve selling goods and products from primary and secondary industries.
It is distinct from the secondary sector manufacturing and the primary sector which concerns extraction such as mining, agriculture and fishing. Also called service sector, tertiary sector of industry. What are some examples of tertiary sector businesses. Tertiary definition, of the third order, rank, stage, formation, etc third. There are some concerns over an economy becoming primarily based on the service sector. Sector definition, a plane figure bounded by two radii and the included arc of a circle.
Below are some examples of tertiary sources available via the library. Tertiary means third in order, third in importance, or at a third stage of development. In business, the business sector or corporate sector sometimes popularly called simply. List of recognized economic sectors free definitions by. Change your default dictionary to american english. The service sector is the third of the three economic sectors of the threesector theory. The growth of the internet has enabled a new range of tertiary services. An industry made up of companies that primarily earn.
In any country several services such as hospitals, schools, post and telegraph, police station, courts, insurance, defense, transport, banks etc are required. A tertiary source summarizes information from primary and secondary sources. Its easiest to think of them as a chain of production, from extracting the raw materials primary through manufacturing secondary and finally to servicing the end consumers tertiary. The tertiary sector is focused on tertiary production, which is commercial services that work to provide support to distribution and production processes such as warehousing, transport services, insurance services, teaching, health care and advertising services. The tertiary sector of the economy is the service industry. Services may involve the transport, distribution and sale of goods from producer to a consumer as may happen in wholesaling and retailing, or may involve the provision of a service, such as in tourism or entertainment. The tertiary sector consists of industries which provide a service, such as transport and. This is the british english definition of tertiary. Find more terms and definitions using our dictionary search. The tertiary industry is the segment of the economy that provides services to its consumers.
Pocketgerman business dictionary englishgermangermanenglish titles in the series pocket. Business news definitions budget gross domestic product. Tertiary definition and meaning collins english dictionary. Tertiary service sector of the economy economics help. Tertiary sector of economic activity financial dictionary. Services also known as intangible goods include attention, advice, access, experience, and affective. Tertiary sector of economic activity synonyms, tertiary sector of economic activity pronunciation, tertiary sector of economic activity translation, english dictionary definition of tertiary sector of economic activity. Service industry companies are involved in retail, transport, distribution, food services, as well as other servicedominated businesses. The tertiary sector of industry is also known as the service industry. Primary, secondary, and tertiary sources in business. Importance of the tertiary sector factors responsible for the growth of tertiary sector. The tertiary industry is split into two main categories. The second comprises the nonprofit segment, which includes services such as state. Economics for tertiary sector essay 888 words cram.
Primary sector definition of primary sector by the free. New technology has enabled new service sector industries to develop. Synonyms for tertiary include third, triennial, 3rd, iii, tertian, advanced, higher, higherlevel, highlevel and postgraduate. Transactions occur when two parties agree to the value or price of the transacted good or service. Tertiary meaning in the cambridge english dictionary. The proportion of the labour force in the tertiary sector is. Service sector also known as tertiary sector includes all branches of human activity whose core is to provide services, thus providing a work, knowledge, financial resources, infrastructure, goods or their combination other sectors of economy raw materials primary sector manufacturing and industry secondary sector the service sector represents a significant part of the national economy. Tertiary definition in the cambridge english dictionary. The first is made up of companies in the business of making money, such as those in the financial industry. What are tertiary sector industries characterized for.
Activities associated with this sector include retail and wholesale sales, transportation and distribution, entertainment movies, television, radio, music, theater, etc. This sector provides services to the general population and to businesses. An industry made up of companies that primarily earn revenue through providing intangible products and services. The services sector, which has grown consistently even in years of economic slowdown, is split between a large and mostly undocumented retailwholesale sector which has negligible capacity to absorb credentialled youth, and a small tertiary services sector finance, banking, telecom which takes in a very small number of employees each year. The tertiary sector covers a wide range of activities from commerce to administration, transport, financial and real estate activities, business and personal services, education, health and social work. Information and translations of tertiary sector in the most comprehensive dictionary definitions resource on the web. The pdes expects the added value in the tertiary sector would grow by about 9 per cent annually during the period 2012 to 2015, about 8 per cent in the commercial sector, particularly in transport, communication and trade. Examples of tertiary employment include the health service, transportation, education, entertainment, tourism, finance, sales and retail. An economy greek household and o manageis an area of the production, distribution or trade, and consumption of goods and services by different agents in a given geographical location.
The tertiary sector is the sector of the economy that concerns services. Tertiary sector financial definition of tertiary sector. The dictionary gives succinct explanations of the 3,000 most frequently found terms. Computers, telephones have all been developed in the past 100 years. The aggregate of manufacturing or technically productive enterprises in a particular field, often named after its principle product, as the automobile industry, the steel industryit includes the ownership and management of companies, factories, industrial plants, etc. The economic agents can be individuals, businesses, organizations, or governments. The others are the secondary sector approximately the same as manufacturing, and the primary sector raw materials the service sector consists of the production of services instead of end products. Three criteria that services can be classified into. The tertiary sector meaning in the cambridge english.
The tertiary sector consists of industries which provide a service, such as transport and finance. The portion of an economy producing services, in contrast to the primary sector and the secondary sector. Four factors of the dominance of the tertiary sector. Tertiary sector definition and meaning collins english. The business sectors of the united kingdom uk is categorised into 3 major sectors namely primary, secondary and tertiary sectors. The oxford english dictionary records the phrase business sector in the general sense from 1934. The tertiary sector of the economy also known as the service sector or the service industry is one of the three economic sectors, the others being the secondary sector approximately the same as manufacturing and the primary sector agriculture, fishing, and extraction such as mining the service sector consists of the soft parts of the economy, i.
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