Video Discription |
What are the stages of production? Primary, secondary, tertiary and quaternary sectors | Teacher RK
#Whatarethestagesofproduction #Primarysecondarytertiaryandquaternarysectors #TeacherRK
In this video, we have explained the four stages of production.
Stages of production ( Business sectors).
There are four stages or sectors.
1. Primary sector.
2. Secondary sector.
3. Tertiary sector.
4. Quaternary sector.
Primary sector.
Businesses in this sector are involved in extraction, harvesting and conversion of natural resources. Examples include, fishing, mining, harvesting, and oil extraction.
Secondary sector.
Businesses in this sector are involved in manufacturing and construction.
This would involve taking the raw materials from the primary sector and converting them into new products.
Examples include manufacturing firms, construction firms, and energy production companies.
Tertiary sector
Businesses in this sector specialise in providing services to the general population.
Services are activities that are done by people or businesses for consumers.
Examples include retailing, transportation, banking, healthcare, insurance, and hairdressers.
Quaternary sector.
Businesses in the quaternary sector are involved in intellectual, knowledge based activities that generate and share information.
Examples include scientific research, research and development, and ICT.
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