Updated: Aug 20, 2021

A part of the economy. Sectors can be delimited in a number of different ways. One way is by the bodies organizing expenditures: thus the economy is divided between the public sector, that is, the government at various levels and government-controlled bodies; the corporate sector, which is companies; and the personal sector, which is individuals, and unincorporated businesses. For national income accounting purposes the rest of the world is sometimes regarded as a sector. Sectors may also be distinguished by the type of product: a primary sector, that is, agriculture and mining; a secondary, or manufacturing, sector; and a tertiary, or services, sector. See also industrial sector; organized sector; sensitive sectors.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.