Explain how tertiary sector is different from other two sectors.?
Introduction:
The economy of any country is broadly classified into three sectors: primary, secondary, and tertiary. The primary sector includes agriculture, forestry, fishing, mining, and other natural resource-based activities. The secondary sector includes manufacturing and construction. The tertiary sector includes services such as banking, healthcare, education, and hospitality. In this article, we will explain how the tertiary sector is different from the other two sectors.
Differentiation:
1. Nature of Work:
The primary sector involves activities related to natural resources, such as farming, forestry, and mining. The secondary sector involves manufacturing and construction. However, the tertiary sector involves the provision of services, such as banking, healthcare, education, and hospitality. Hence, the nature of work is entirely different in the tertiary sector, as compared to the other two sectors.
2. Level of Technology:
The primary sector is labor-intensive and involves manual work. The secondary sector involves the use of machinery and technology, such as factories and construction equipment. However, the tertiary sector involves the use of advanced technology, such as computers, software, and other electronic devices, to provide services. Hence, the level of technology used in the tertiary sector is higher than the other two sectors.
3. Level of Skill:
The primary sector requires basic skills related to farming, fishing, and mining. The secondary sector requires technical skills related to manufacturing and construction. However, the tertiary sector requires specialized skills related to the provision of services, such as banking, healthcare, education, and hospitality. Hence, the level of skill required in the tertiary sector is higher than the other two sectors.
4. Income and Employment:
The primary sector provides employment to a large number of people but offers low wages. The secondary sector provides employment to fewer people than the primary sector but offers higher wages. However, the tertiary sector provides employment to a small number of people but offers the highest wages. Hence, the income level in the tertiary sector is higher than the other two sectors.
5. Growth Potential:
The primary sector is limited by the availability of natural resources. The secondary sector is limited by the level of demand for manufactured goods. However, the tertiary sector has no such limitations and has the potential for unlimited growth. Hence, the growth potential of the tertiary sector is higher than the other two sectors.
Conclusion:
In conclusion, the tertiary sector is entirely different from the other two sectors in terms of nature of work, level of technology, level of skill, income and employment, and growth potential. The tertiary sector has become the dominant sector in developed countries and is expected to grow further in the coming years.