What Does third sector Mean
Sector is a concept with multiple meanings. In the economy , a sector is a set of productive or commercial activities. All these groups, onother, can congregate in three broad sectors: primary sector , secondary sector and the tertiary sector .
The tertiary sector is also known as the service sector , since it includes those activities that do not involve the production of material goods. Companies in the tertiary sector, in this way, are dedicated to satisfying different needs of people .
It is often said that the tertiary sector is dedicated to the organization and distribution of what the other two sectors produce: the primary sector (focused on the direct extraction of natural resources) and the secondary sector (oriented towards the transformation of natural resources through industrial processes).
Specifically, we can establish that the tertiary sector is made up of several areas such as these:
1-Financial activities, which would be all those related to banks, the stock market, insurance ...
2-Activities that become services that are provided to companies: advice, administration, management, consulting ...
3-Tourism and hospitality.
4-Activities in the field of transport and communication.
5-Telecommunications area, where services related to telephony would have a special role.
6-Commercial activity, whether at the retail level, wholesale, franchisees ...
7-Personal services that aim to improve the quality of life of citizens. In this section, both activities related to aesthetics (hairdressing, makeup ...) and what would be the welfare state (schools, hospitals, administration ...) can be included.
8-Activities in the field of public function and administration: justice, defense, political representation…
9-Services related to leisure and culture: cinema, theater, music, sport…
10-Media, whether written, digital, television or radio.
11-Activities related to Information Technologies such as the Internet.
All economic sectors are considered essential for the proper development of a country. However, the tertiary, in particular, brings a series of notable advantages, such as these:
-Its transport activities allow it not only to make cities grow but also to attract tourism and improve communications within the country.
-The ICT, for example, have given a radical change to the world of work since they have allowed the creation of new jobs and new professions, it has led to the existence of work from home ...
A supermarket , for example, is part of the tertiary sector. This type of store does not obtain the resources it sells from nature nor does it process them, but instead acquires the products of the primary sector and the secondary sector and sells them to the final consumer.
The transport companies , the schools , the television , the health clinics , the telephone companies and banks are other players in the tertiary sector. As can be seen, this sector is made up of entities with very different characteristics, but which coincide in not engaging in the extraction of natural resources directly or in industrial processes.
Some tertiary sector activities are sometimes included in a quaternary sector or a quinary sector , although the most popular economic theory refers to only three sectors.