What is the tertiary industry?
The tertiary industry is one that provides services to other economic sectors - primary and secondary sectors - as well as other tertiary industries and consumers. Sometimes it is difficult to define, the tertiary industry works in what economists call the tertiary sector of the economy. The primary sector is occupied by those sectors that extract raw materials from the ground, whether in agriculture, fishing or mining. The secondary sector converts raw materials supplied by the primary sector into products such as cars, ethanol and bacon. The tertiary sector serves all industries and people in them, both in the delivery of products produced in other two sectors and providing services such as health care, accounting, education and entertainment. Is the farm primary because it grows fresh food or tertiary because it sells this food to the public? Is a secondary program because it converts raw materials into energy or tertiary because it sells this energy? On the other hand, many industries have a truly tertiary nature, nor extract, grow or produce, and yet contributes to the economy and society. Some examples of strict tertiary industry are education, banking, transport services, entertainment and charity services.
The fact that the industry is classified as a tertiary industry does not reduce its importance in an economic overview, because the large economy requires each industry to remain viable. Historically, economies are progressing from a great relying on agriculture, fishing and extraction to the development base, the secondary sector. The tertiary sector is always part of the economy, but grows with the production sector and eventually increases, as the economy is increasingly focused on various services offered by the tertiary industry.
When the economy works badly, employment in the tertiary industry may be more vulnerable than OSTattoo, but it's not a hard and fast rule. Education is a tertiary industry whose employment and other economic activities will respond more to changes in the population of school age than, for example, on the stock market. Travel and entertainment, on the other hand, is a tertiary industry that is generally very susceptible to economic performance. With a decrease in confidence in the performance of the economy, consumers will delay discretional expenses, instead save on the proverbial day of a rainy day.
Some observers noted that the tertiary sector has two components: one involved in Deliveery tangible goods and the other devoted to the supply of intangible goods - things such as education, health care, financial services and entertainment. These are all services whose value is difficult to determine, but overall these industries are an important percentage of the economy, and therefore the tertiary sector is often called the service sector.
There is a significant controversy about the correct role of the tertiary sector and industrial from the economistsbranches that include in a mature economy. Since the primary sector consolidates and globalized and the secondary sector loses employment of cheaper work in developing economies, work from them has been displaced to the generally lower paid jobs in the tertiary sector and raised questions about quality of life for future generations.