Models of Development and Measures of Productivity
PRIMARY ECONOMIC ACTIVITIES are involved with the harvest or extraction of raw materials. Fishing, agriculture, ranching, and mining are all examples of primary economic activities.
SECONDARY ECONOMIC ACTIVITIES are generally associated with the assembly of raw materials into goods for consumption. Heavy industries, manufacturing, and textile products are all examples of secondary economic activities.
TERTIARY ECONOMIC ACTIVITIES involve the exchange of goods produced in secondary activities. Retailing, restaurants, and any other basic service job occur in the tertiary sector of the economy.
QUATERNARY ECONOMIC ACTIVITIES include research and development, teaching, tourism, and other endeavors having to do with generating or exchanging knowledge.
QUINARY ECONOMIC ACTIVITIES are generally considered a subset of quaternary activities and are those that involve high-level decision making and scientific research.