Economic sector
An economic sector groups activities with similar roles in production and provision. One common introductory classification distinguishes primary extraction, secondary production, tertiary services and quaternary knowledge-based activities. Other classification systems use different boundaries. These activity sectors differ from the public, private and not-for-profit classification of ownership or purpose.
Worked example
A government-owned hospital operates in services while being public-sector by ownership and governance. The two classifications answer different questions.
Common mistake
Assuming tertiary means private sector or that economic-sector categories determine an organisation’s legal form.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | BT | Supporting | September 2026–June 2027 |
| FIA | FBT | Supporting | September 2026–June 2027 |
