Platinum Business Academy
No 10, Vincent Joseph Mawatha,
Wattala, Sri Lanka
Advanced Level
SECTORS OF THE ECONOMY
Economies are structured into 3 main sectors but some economists identify the
fourth sector as well.
1. PRIMARY SECTOR: Involves extraction & growing of raw materials
E.g. of Industries in the primary sector includes agriculture, forestry,
fishery& quarrying.
2. SECONDARY SECTOR: Involves converting raw materials into finished
goods
E.g. Manufacturing, construction & processing.
3. TERTIARY SECTORS: Provides services to firms in the primary &
secondary sectors and to the general public. In other words, provides
services directly and indirectly.
E.g. Transportation, shipping, hotels & financial institutions
4. QUARTERNARY SECTOR: This is a sub section of the tertiary sector, it
covers industries which are involved with the collection, processing &
transmission of information.
E.g. Telecommunications providers, cable companies and internet providers
5. QUINARY SECTOR: it is the branch of a country's economy where
high-level decisions are made by top-level executives in the
government, industry, business, education, media and non-profit
organizations. The quinary sector is the top economics sector.
1
Wasim Imtiasz
BA (Hons) Middlesex University (UK), CIMA passed finalist, ACCA finalist, Edexcel Dual HND in Business &
Management + Business & Human Resources (UK)
Platinum Business Academy
No 10, Vincent Joseph Mawatha,
Wattala, Sri Lanka
Advanced Level
ECONOMIC GOODS
 Goods which are limited in supply
 Involves production cost
 Has no opportunity cost
FREE GOODS
Goods which are unlimited in
in supply
Doesn’t involve production cost
Includes an oppurtunity cost
CONSUMER GOODS AND CAPITAL GOODS
Goods purchased for final consumer are considered as consumer goods.
Consumer goods are of 2 types
❖ Durable consumer goods
Doesn’t come to an end with consumption  Furniture & Vehicles
❖ Non-durable consumer goods
Comes to an end with consumption  Food
CAPITAL GOODS
Are goods that are used to produce consumer goods?
Capital goods are of 2 types
❖ Fixed Capital
❖ Working Capital
2
Wasim Imtiasz
BA (Hons) Middlesex University (UK), CIMA passed finalist, ACCA finalist, Edexcel Dual HND in Business &
Management + Business & Human Resources (UK)