#1.
Which sector do you intend to work in or do you already work in? How do you fit into the total picture?
–> I intend to work in the educational sector that falls under an economy’s tertiary sector. I want to be engaged in the educational sector as a quality service provider which will be more focused on practical knowledge than theoretical education.
It is not necessary at which level I will be working, but I confirm that I will be providing the best among the best quality knowledge to all students.
In the real picture, we must be connected to all three sectors of the economy. So, I will assure you that I will not be going to abandon my education in the other two-sector.
I will need infrastructure like buildings, furniture, a playground, sports materials, a projector, AC, laptops, and much more operational equipment. And all these products are manufactured in industries and factories which are part of the secondary sector.
Also, there will be a need for raw materials or the first product to manufacture the above-mentioned finished goods, and raw materials can be acquired from the primary sector of the economy. Thus, indirectly or directly, I will be working in my educational sector by connecting with the other two; primary and secondary sectors of the economy.
On the other hand, our country is not focusing on quality education and only giving theoretical education to students. So, I would like to distribute quality and practical knowledge in primary, secondary, higher secondary, bachelor, and also above this level.
My main dream is to make my country a hundred percent literate and not by junk knowledge in their minds but by their intellectual capacity. I can help farmers by teaching them practical knowledge in their working place by demonstrating practical activities. So, they will gain more skills and can relate problems and solutions in a very efficient manner.
Similarly, if a child is growing with perfect and required intellectual capability then there is no need to expect anymore, he/she can wisely and actively perform his/her work and can support our country in all sectors.
Hence, all the people working in any sector are related to the remaining two-sector directly or indirectly. And we can conclude by saying that improving one sector can proportionately benefit another two-sector.
#2.
Describe the three sectors of the economy along with examples.
–> The three sectors of the economy are:
- Primary Sector
- Secondary Sector
- Tertiary Sector
Primary Sector: Extraction of raw materials; Mining, Fishing, and Agriculture. The primary sector is sometimes referred to as the extraction sector because raw materials are taken.
These resources can be renewable, such as fish, chicken, wool, wind power, etc. Or it also may be non-renewable resources such as oil, coal mining, etc. The packaging and processing of the raw materials associated with this sector are also considered to be part of this sector.
Secondary Sector: The secondary sector of the economy manufactures finished goods. The manufacturing industry takes raw materials and mixes them to create a finished product with a higher value-added.
For example, to make a loaf of bread, the first farmer must harvest wheat and it must be converted into flour and only the industry uses it to make bread.
Thus, the activities associated with the secondary sector include the production of final goods, chemical and engineering industries, construction and building, etc.
Tertiary Sector: It is the service industry and deals with the intangible dimension of providing services to consumers and businesses. It also involves retailing goods produced. It also provides insurance and banking services.
Due to improved labor productivity and higher disposable income, the service sector expanded in the twentieth century. Other examples are retail and wholesale sales, transportation and distribution, entertainment (movies, television, radio, music, etc.), restaurants, media, tourism, healthcare, etc.
Hence, though the economy is divided into three sectors, we can’t ignore that these all are interlinked or interdependent.
Extracted From
MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (2nd ed.). Cambridge University Press.