How many main sectors are recognized within the economy?

The economy is typically divided into four main sectors: primary, secondary, tertiary, and quaternary.

The primary sector involves the extraction and production of raw materials, such as agriculture, fishing, and mining. The secondary sector encompasses manufacturing and construction, where raw materials are transformed into finished goods. The tertiary sector focuses on services, including retail, healthcare, and education, which support the economy by providing assistance rather than producing goods. Lastly, the quaternary sector involves knowledge-based services like information technology, research, and consulting, emphasizing innovation and intellectual services.

Recognizing these four sectors helps in understanding how different types of economic activities contribute to the overall functioning and growth of an economy. This classification also aids in analyzing economic trends and development across various industries.