World Library  
Flag as Inappropriate
Email this Article

Quaternary sector of industry

Article Id: WHEBN0017886797
Reproduction Date:

Title: Quaternary sector of industry  
Author: World Heritage Encyclopedia
Language: English
Subject: Dot-com bubble, Galicia, Spain, Economy of Pakistan, Carlyle Group, A Coruña, Ferrol, Galicia, Outline of industry
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Quaternary sector of industry

The quaternary sector of the economy is a way to describe a knowledge-based part of the economy which typically includes services such as information generation and sharing, information technology, consultation, education, research and development, financial planning, and other knowledge-based services.[1][2][3] The term has been used to describe media, culture, and government.[4] The term is a further delineation of the three-sector hypothesis of industry in the sense that the quaternary sector refers to a part of the third or tertiary sector along with the quinary economic sector. It has been argued that intellectual services is distinct enough to warrant a separate sector and not be considered merely as a part of the tertiary sector. This sector evolves in well developed countries and requires a highly educated workforce.[4]

In the quaternary sector, companies invest to ensure further expansion. It is seen as a way to generate higher margins or returns on investment.[5] Research will be directed into cutting costs, tapping into markets, producing innovative ideas, new production methods and methods of manufacture, amongst others. To many industries, such as the pharmaceutical industry, the sector is the most valuable because it creates future branded products from which the company will profit.

According to some definitions, the quaternary sector includes other pure services, such as the entertainment industry.

The quaternary sector consists of those industries providing information services, such as computing and ICT (information and communication technologies), consultancy (offering advice to businesses) and R&D (research, particularly in scientific fields).

The quaternary sector is sometimes included with the tertiary sector, as they are both service sectors. Between them, the tertiary and quaternary sectors are the largest part of the UK economy, employing 76% of the workforce.

References

External links

This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from World Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.