Overview
This segment from "American Harvest" focuses on the tertiary sector of the economy, highlighting the variety of service-oriented businesses involved in supporting manufacturing and daily life.
Economic Sectors Overview
- The economy is divided into three sectors: primary (raw materials), secondary (manufacturing), and tertiary (services).
- The tertiary sector includes businesses that provide services rather than physical goods.
The Tertiary Sector Explained
- The tertiary sector is often called the service sector.
- It includes activities such as transportation, banking, retail, healthcare, and education.
- These services support both consumers and other industries.
- Growth in the tertiary sector reflects economic development and higher living standards.
- In developed countries, the majority of jobs are found in the tertiary sector.
Examples and Role in the Economy
- Businesses like banks, insurance companies, and retail stores are part of the service sector.
- Transportation companies move raw materials and finished goods to markets.
- Education and healthcare services improve workforce quality and public health.
- The service sector connects consumers with products produced by the primary and secondary sectors.
Key Terms & Definitions
- Primary sector — the part of the economy that extracts raw materials (e.g., mining, agriculture).
- Secondary sector — the part of the economy that manufactures goods from raw materials.
- Tertiary sector — the part of the economy that provides services to people and businesses.
- Service sector — another term for the tertiary sector, encompassing all service-based industries.
Action Items / Next Steps
- Review examples of service sector jobs in your community.
- Compare the roles of the three economic sectors in your country's economy.