Sectors refer to different parts or divisions that make up an economy. These divisions include primary (agriculture), secondary (manufacturing), tertiary (services), and quaternary (information technology) sectors. Each sector plays a unique role in producing goods/services necessary for overall economic growth.
Related terms
GDP (Gross Domestic Product): A measure of the total value of goods and services produced within a country's borders over a specific time period.
Labor Force: The total number of people who are either employed or actively seeking employment.
Economic Growth: An increase in the production and consumption of goods and services over time, usually measured by changes in GDP.