In which sector of the economy would you place the activitie
In which sector of the economy would you place the activities of the Pittsburg and West Virginia railroad??
In which sector of the economy would you place the activities of the Pittsburg and West Virginia railroad??
Solution
Railroads are part of the tertiary sector.
We divide the economy into 4 major sectors primary sectors are all about raw materials. It could be anything like rice or sugarcane.
Secondary sector is about doing some value addition in the primary sector and producing manufactured goods.
The tertiary sector is the supporting sector and includes services like railways, post, finance etc. Railroads support the manufacturing or the secondary sector by transporting raw material and the finished goods from one place to another.
the final sector is quaternary sector include research, education etc.
