Quaternary Sector: This term describes the knowledge-based part of an economy involved in intellectual activities such as research and development (R&D), information technology (IT), consultancy services.
Service Economy: Also known as a post-industrial economy; it is an economic system where most of the economic value is generated through the provision of services rather than the manufacturing of goods.
Service Sector Employment: This term refers to the number of people employed in service-related industries such as healthcare, education, retail, and hospitality.