Secondary Industries
Secondary industries, also referred to as manufacturing industries, raise the worth of the goods supplied by primary industries by transforming them from raw materials to a product that people are more likely to buy. The textile, food processing, steel fabrication, aerospace, and construction sectors are a few examples of these businesses that can be found in California. It has been argued that farming has developed greatly to the point where it can be categorized as a secondary industry. However, these technological developments only make it more challenging to classify the different stages of economic activity.
The Tertiary Sector
The tertiary sector provides services to the consumers such as "personal, professional, clerical and business services." (Selby, 370) This industry is a rapidly growing sector, and as such, it may soon overshadow the primary and secondary industries. The tertiary industry is comprised of two main classes. The first one is the financial industry which focuses on institutions that are in the money-making business. The second type is the nonprofit sector, for example, state-funded education institutions.
The Quaternary Sector
Although the quaternary sector is also a service industry, it focuses mainly on intellectual pursuit of the economy. The rapid industrial growth of the economy has necessitated that some technological services (Telecommunication providers, internet service providers, and cable companies) which had been categorized as tertiary to be placed in this new class. Some of the industries that can be categorized in the quaternary sector include education, the entertainment industry, research, information, management, data-processing and administrative services.
The Quinary Sector
The quinary sector or the "gold collar" industry is a further subdivision of the quaternary industry. It includes individuals or institutions who are at the highest level of decision making in an economy. Though there are fewer of these jobs available, they are steadily growing in numbers. They are also among the highest paying positions in the marketplace. This sector includes top administrators, managers, and executives in fields such as healthcare, media, education, government and non-profit organizations. Some public service providers such as police and fire departments may be included in this sector.
Works Cited
“L: Industrial Organization.” Journal of Economic Literature, vol. 51, no. 4, 2013, pp. 1254–1261. JSTOR, JSTOR, www.jstor.org/stable/23644868.
Selby, William. Discovering the Golden State. Santa Monica College: Wiley, 2014. Print.
