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primary industry forms the base for the other two types of industries. This industry is concerned about extracting raw materials and products from nature which will later go through modifications to produce the final products and services for consumers or customers. It is the most important segmentation in the industry ladder as without this, others would not exist.
Primary industry is heavily dependent on natural resources and raw materials. This is of more significance in developing countries than in developed countries. Agricultural, mining, fishing, etc. are all parts of the primary industry.
Secondary industry is built on the raw materials and products accumulated through the primary industry. Manufacturing and construction are two main parts of this industry. This industry is mostly responsible for making our everyday life easier. It utilises a lot of energy as heavy machinery and tools are used.
However, this industry also impacts the environment heavily because of the waste produced from these industries.
service-oriented sector among the three types of industries. It can be said that the goods produced in the previous two sectors are utilised in this sector to provide services. The total percentage of workers in this sector is about 26.8%
Tertiary industry maximises productivity and potential by combining expertise, knowledge and services with the tools and products produced through primary and secondary industries.
The tertiary industry mostly consists of administrative services, transport, real estate activities, personal services, health, education and social work .
the most sophisticated business sector out there. These industries are an extention of the tertiary sector, involved in the creation and utilisation of knowledge to develop new products and services.
Examples of quaternary industries include information technology, research and development, and scientific advancements. These industries rely heavily on research and development, making them the most expensive sectors to operate in.