The tertiary sector is focused on tertiary production, which is commercial services that work to provide support to distribution and production processes such as warehousing, transport services, insurance services, teaching, health care and advertising services. In the industrial world, there are three types of industry sectors: primary sectors, secondary sectors and tertiary sectors.
Primary sectors focus on primary production, which is the task of obtaining raw materials such as metals, rubbers, coal, fish and other foods. Secondary sectors focus on secondary production, which is the process of manufacturing and assembly. This process includes everything from making plastics from oil to building houses, roads and bridges. In this process, the raw materials from the primary sector are turned into components and products.
Tertiary sectors are interdependent on the other two sectors in order for businesses to operate functionally. Governments often place sanctions on the various sectors when trying to impose new rules. An example of this would be the international community's sanctions on oil coming from Russia in August of 2014. Putin, the Prime Minister of Russia, was not listening to international rules and laws so the international community decided to impose sanctions that would hurt his ability to govern effectively and popularly in his own country. Sanctions include hindering technology transfer as well as inhibiting cooperation from other countries.Learn More
Objectives within the private sector include optimizing profits, reporting financial data with clarity, selecting the proper organizational structure to limit liability and to protect company policies, such as marketing plans, from the competition. Private sector companies are not controlled by the state. According to unemployment rates followed by the United States Bureau of Labor Statistics, the private sector offers the most job opportunities.Full Answer >
The uneven distribution of wealth during the Great Depression was one of the causes of The Great Depression, as it led to an unstable economy. Other causes of the Great Depression were the stock market speculation and the stock market crash.Full Answer >
The quaternary sector of an economy refers to the portion of a workforce comprised of highly skilled individuals who are proficient in information services or fields based on knowledge. As an emerging characteristic of the post-industrial economies that developed in the late 20th century, large transnational companies grew to become providers or producers of information technology. This created a need for individuals possessing skills and knowledge in areas such as research and development, education, consulting, financial planning and data collection.Full Answer >
A tertiary qualification is a program of study in Australia that is considered higher education. It is very similar to college, and a tertiary qualification or education can come from a governmental or private institution.Full Answer >