Answer to Question #205989 in English for Allison

Question

Identify three sectors within the UK economy in which a business can operate. What are the differences between the three sectors? Comment on their value to the UK economy.

1500 words in total

Answer 1

The three sectors within the United Kingdom economy in which a business can operate include;

• Primary sector- This acts as the foundation for all other businesses. It creates raw materials that go on to support every other sector. Examples of industries within this sector include agricultural, mining, forestry and fishing industries. This sector employs a very small percentage of the active population in the United Kingdom. Due to advancement in technology, there has been gradual shifts from the primary sectors to the secondary and tertiary sectors. It accounts for a very small percentage of the county's Gross Domestic Product.

• Secondary sector- This sector includes the manufacturing industry. The sector transforms the raw materials produced in the primary sector into various products. It comprises a significant portion of the work force in the United Kingdom of about 18%. However, technology allows manufacturers to get more work done with fewer resources which has led to a significant decline in this sector. It accounts for about 17.4% of the county's GDP.

• Tertiary sector- This sector provides services such as tourism, financial services and retail industry. It relies on products produced in the primary and secondary sectors. It employs the biggest portion of the work force in the United Kingdom. It contributes a large percentage of the country's Gross Domestic Product hence considered the engine of the economy.