Tertiary sector
The tertiary sector provides services, including activities such as retail, transport, hospitality and many professional services. In a four-sector teaching classification, some knowledge-focused services are identified separately as quaternary. An organisation can combine service activities with production, so classification should state the activity and convention used.
Worked example
A bus operator provides transport services and is tertiary-sector in the introductory classification. Buying buses does not make it a bus manufacturer.
Common mistake
Assuming every tertiary activity has the same economics or that service organisations never use significant physical assets.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | BT | Supporting | September 2026–June 2027 |
| FIA | FBT | Supporting | September 2026–June 2027 |