The tertiary sector activity has been a large part of British economies for a long time, and its contribution to our national life is still relatively small. In particular the service industry has been responsible for a large part of our economic prosperity over the past sixty years, and it has been a vital part of the overall system of economic growth.
The service industry is the main component of the tertiary sector, however there are other important sectors. The first two parts are the manufacturing and distribution, the second part is education. The next few paragraphs will look at some of these different sectors more closely.
The manufacturing sector in particular has been an important contributor to our economic prosperity over recent decades, but its contribution has not been limited to the production of goods and services. The service industries in this sector include accounting, finance, administration, marketing, and even legal work. It also includes many of our other manufacturing industries. So, even within this sector there are many different factors contributing to its contribution to our economy.
The next two tertiary sector's activities that we look at are education and finance. Education is a significant factor in our society, and in the UK in particular it has become a significant part of our economy. The school system, which covers all schools in a country, is a major contributing factor to the overall growth of education in the UK.
The financial sector in general is another important contributor to our overall economic well being. The main components of this sector are banks, building societies and insurance companies. Many of these financial industries are also the largest employers in a country.
We have looked at some of the key tertiary sector activity, both in relation to industry, but also in relation to government. This sector has been one of our strongest influences on our economy over recent decades, and there are many different aspects that it contributes to the overall economic well being of our nation.
Our tertiary sector has also been responsible for many different benefits that we receive from our economy. Our higher education system is one of the leading research institutes in the world. We can also rely on our higher education system to make sure that we provide high quality jobs to graduates and skilled workers who are capable of working in this sector. We also have a large number of hospitals, a very large number of technical colleges, and universities, and a number of different other institutions which provide training in this sector.
So, when it comes to tertiary sectors activities it is important that we look at each of these sectors and consider how much the sector contributes to our overall economic growth. In addition, we need to consider how the various sectors are affected by the wider social and economic structures of our country. A good example of this is the fact that the tertiary sector in the UK has been one of the main contributors to the growth of the public sector, which in turn has helped the private sector to flourish.
Therefore, it makes sense that these are some of the factors which we need to consider when we are thinking about our economic stability. As we go into this final part of the series we will look at what further growth we could expect in our tertiary sectors over the future.
Economic activities are classified into groups using some – tertiary sector activities | tertiary sector activities
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