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Meaning of economic sector
The primary meaning of "economic sector" refers to a distinct part of an economy, such as a particular industry or market.
Etymology of economic sector
The term "economic sector" originated from the Latin words "sectus," meaning "cut" or "divided," and "oeconomia," meaning "household management" or "economy."
Historically, the concept of economic sectors emerged in the 19th century as economists began to categorize economic activities into distinct groups, such as primary, secondary, and tertiary sectors.
Synonyms
industry
market
field
domain
area
branch
division
segment
zone
territory
region
category
class
group
type
kind
genre
trade
commerce
business
enterprise
firm
company
corporation
outfit
organization
institution
economy
system
network
framework
structure
model
pattern
trend
cycle
phase
stage
period
era
age
time
season
spell
term
quarter
year
decade
century
millennium
Definitions
- A sector is a distinct subset of a country's or a company's economy, which is characterized by a similar type of economic activity.
- * It is a grouping of companies or organizations that operate in a similar market or industry.
Usage Examples
- The country's economic sector is driven by the service industry, which accounts for the majority of its GDP.
- * The company operates in the technology sector, specializing in software development and data analytics.