Tertiary sector of the economy

Imagine your family owns a lemonade stand. The first thing you need to do is buy lemons and sugar from the grocery store. This is part of the primary sector of the economy because it involves extracting raw materials from the earth.

Next, you need to turn those lemons and sugar into lemonade. This is part of the secondary sector of the economy because it involves manufacturing and processing raw materials to create a finished product.

Finally, you need to sell your lemonade to people. This is part of the tertiary sector of the economy, also known as the service sector, because it involves providing services to other people.

The tertiary sector includes a wide range of businesses and services such as retail stores, restaurants, healthcare providers, banks, and transportation companies. These businesses focus on providing services that meet the needs and wants of people in the community.

So, to summarize, the tertiary sector of the economy involves businesses that provide services to people, like a lemonade stand that sells lemonade to thirsty customers.