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Question
"The quaternary sector along with the tertiary sector has replaced most of the primary and secondary employment." Support the statement.
Solution
- The Quaternary Sector along with the Tertiary Sector has replaced most of the primary and secondary employment as the basis for economic growth.
- Over half of all workers In developed economies are in the ‘Knowledge Sector’ and there has been a very high growth in demand for and consumption of information based services from mutual fund managers to tax consultants, software developers and statisticians.
- Personnel working in office buildings, elementary schools and university classrooms, hospitals and doctors’ offices, theatres, accounting and brokerage firms all belong to this category of services.
- Like some of the tertiary functions, quaternary activities can also be outsourced. They are not tied to resources, affected by the environment, or necessarily localised by market.
RELATED QUESTIONS
Which one of the following activities is related to quaternary sector?
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State three characteristics of the quaternary activities.
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“Quaternary activities centre around research and development.” Examine the statement.
