What defines the tertiary sector in an economy?

Study for the GCSE Economics Exam with comprehensive flashcards and multiple choice questions. Each question includes hints and detailed explanations. Prepare thoroughly for your exam!

The tertiary sector in an economy is defined by its focus on providing services rather than producing tangible goods. This sector encompasses a wide range of activities, including healthcare, education, hospitality, finance, and retail, among others. Such services facilitate the completion of tasks and enhance the quality of life for individuals and businesses, playing a crucial role in contemporary economic structures.

In contrast, options that mention the production of physical goods, construction, or manufacturing activities pertain to the primary and secondary sectors. The primary sector involves extracting natural resources, while the secondary sector is involved in manufacturing these resources into finished products. Thus, the essence of the tertiary sector lies in its service-oriented nature, distinguishing it from the other sectors focused on goods production.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy