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Explore the people, places, events, achievements, struggles and stories that shaped our journey.
Movements, leaders, victories and the continuing fight for equality.
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Pioneers, champions, Negro Leagues, records, activism and excellence.
Meet the people whose lives, choices and achievements shaped the journey.
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Moments that changed communities, movements, institutions and the nation.
In 1968 Shirley Chisholm became the first Black woman elected to the United States Congress. In 1972 she launched a campaign for the Democratic presidential nomination, breaking another political barrier.
MORE →Reflects the personal views, recollections, and perspective of the author, Mike Davis.
This is a personal recollection on the Move fire on May 13, 1985
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In economics, the tertiary sector (also known as the service sector) is the economic sector which comprises the provision of services as opposed to the manufacture of finished goods. Services (also known as "intangible goods") include attention, advice, access, experience and affective labour.
The tertiary sector involves the provision of services to other businesses as well as to final consumers. Services may involve the transport, distribution and sale of goods from a producer to a consumer, as may happen in wholesaling and retailing, pest control or financial services. The goods may be transformed in the process of providing the service, as happens in the restaurant industry. However, the focus is on people by interacting with them and serving the customers rather than transforming the physical goods. The production of information has been long regarded as a service, but some economists now attribute it to a fourth sector, called the quaternary sector.
It is sometimes hard to determine whether a given company is part of the secondary or the tertiary sector. It is not only for-profit companies that make up the sector in some schemes, but also governments and government agencies (such as the police or military) and nonprofit organizations (such as charities or research associations) that provide services.[1]
To classify a business as a service, one can use a classification system such as the United Nations' International Standard Industrial Classification, the North American Industrial Classification System (NAICS), the Statistical Classification of Economic Activities in the European Community (NACE) or similar systems elsewhere. These governmental classification systems have a first level of hierarchy that reflects whether the economic goods are tangible or intangible.
For purposes of finance and market research, market-based classification systems such as the Global Industry Classification Standard and the Industry Classification Benchmark are used to classify businesses that participate in the service sector. Unlike governmental classification systems, the first level of market-based classification systems divides the economy into functionally related markets or industries. The second or third level of these hierarchies then reflects whether goods or services are produced.
For the last 100 years, there has been a substantial shift from the primary and secondary sectors to the tertiary sector in industrialized countries. This shift is called tertiarisation.[2] The tertiary sector is now the largest sector of the economy in the Western world, and is also the fastest-growing sector. In examining the growth of the service sector in the early nineties, the globalist Kenichi Ohmae noted that:
In the United States, 70 per cent of the workforce works in the service sector; in Japan, 60 per cent, and in Taiwan, 50 per cent. These are not necessarily busboys and live-in maids. Numerous of them are in the skilled category. They are earning as much as manufacturing employees, and often more.[3]
Economies tend to follow a developmental progression that takes them from heavy reliance on agriculture and mining, toward the development of manufacturing (e.g. automobiles, textiles, shipbuilding, steel) and finally toward a more service-based structure. The first economy to follow this path in the modern world was the United Kingdom.[citation needed] The speed at which other economies have made the transition to service-based (or "post-industrial") economies has increased over time.
Historically, manufacturing tended to be more open to international trade and competition than services. However, with dramatic cost reduction and speed and reliability improvements in the transportation of people and the communication of information, the service sector now includes some of the most intensive international competition, despite residual protectionism.
Service providers face obstacles selling services that goods-sellers rarely face. Services are intangible, making it difficult for potential customers to understand what they will receive and what value it will hold for them. Indeed, some, such as consultants and providers of investment services, offer no guarantees of the value for the price paid.
Since the quality of most services depends largely on the quality of the individuals providing the services, "people costs" are usually a high fraction of service costs. Whereas a manufacturer may use technology, simplification, and other techniques to lower the cost of goods sold, the service provider often faces an unrelenting pattern of increasing costs.
Product differentiation is often difficult. For example, how does one choose one investment adviser over another, since they are often seen to provide identical services. Charging a premium for services is usually an option only for the most established firms, who charge extra based upon brand recognition.[4][self-published source?]
Media related to Tertiary sector of the economy at Wikimedia Commons| International | |
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Source: Wikipedia. Article content is retrieved live through the MediaWiki API.
In economics, the tertiary sector (also known as the service sector) is the economic sector which comprises the provision of services as opposed to the manufacture of finished goods. Services (also known as "intangible goods") include attention, advice, access, experience and affective labour. The tertiary sector involves the provision of services to other businesses as well as to final consumers. Services may involve the transport, distribution and sale of goods from a producer to a consumer, as may happen in wholesaling and retailing, pest control or financial services. The goods may be transformed in the process of providing the service, as happens in the restaurant industry. However, the focus is on people by interacting with them and serving the customers rather than transforming the physical goods. The production of information has been long regarded as a service, but some economists now attribute it to a fourth sector, called the quaternary sector.
In economics, the three-sector model divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary). The model was developed by Allan Fisher, Colin Clark, and Jean Fourastié in the first half of the 20th century, and is a representation of an industrial economy. It has been criticised as inappropriate as a representation of the economy in the 21st century. According to the three-sector model, the main focus of an economy's activity shifts from the primary through the secondary and finally to the tertiary sector. Countries with a low per capita income are in an early state of development; the main part of their national income is achieved through production in the primary sector. Countries in a more advanced state of development, with a medium national income, generate their income mostly in the secondary sector. In highly developed countries with a high income, the tertiary sector dominates the total output of the economy. The rise of the post-industrial economy in which an increasing proportion of economic activity is not directly related to physical goods has led some economists to expand the model by adding a fourth quaternary or fifth quinary sectors, while others have ceased to use the model.
An economic sector is a part of an economy that includes similar economic activities and industries. One classical breakdown of economic activity distinguishes three sectors: Primary: involves the retrieval and production of raw materials, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector. Secondary: involves the transformation of raw materials or intermediate goods into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector. Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in the tertiary sector. In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and "quinary" service sectors. Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and hospitality. To have a more comprehensive description of the economy it will be necessary to start defining the foundational sector: the household production sector. It involves production of goods and services essential for the production and maintenance of human life. Currently mostly produced by unpaid work. Economic theories divide economic sectors further into economic industries.
In economics, the primary sector is the economic sector which comprises industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries. For example, in 2018, agriculture, forestry, and fishing comprised more than 15% of GDP in sub-Saharan Africa but less than 1% of GDP in North America. In developed countries the primary sector has become more technologically advanced, enabling for example the mechanization of farming, as compared with lower-tech methods in poorer countries. More developed economies may invest additional capital in primary means of production: for example, in the United States Corn Belt, combine harvesters pick the corn, and sprayers spray large amounts of insecticides, herbicides and fungicides, producing a higher yield than is possible using less capital-intensive techniques. These technological advances and investment allow the primary sector to employ a smaller workforce, so developed countries tend to have a smaller percentage of their workforce involved in primary activities, instead having a higher percentage involved in the secondary and tertiary sectors.
Before the 1921 destruction of Tulsa’s Greenwood District, Black residents had created a remarkable center of business and community life. The district included stores, professional offices, entertainment venues and homes owned by Black citizens. Understanding Greenwood means learning what was built—not only what was burned.
MORE →Mae Jemison, aboard Space Shuttle Endeavour in 1992.
