Monday, April 10, 2023

Difference between Tertiary Quaternary and Quinary Services

Tertiary, quaternary, and quinary economic activities are categories of economic activities that are based on the type of service or knowledge provided by the economic actors. The key differences between these categories are: 

Tertiary sector involves the service sector rather than tangible goods. This work refers to a range of personal and business services involving a rapidly growing share of the labour force in highly developed areas. In a colloquial sense, persons engaged in personal service occupations "take in one another's washing." Retail clerks, barbers, beauticians, and secretaries all fall into the personal and business sérvice categories, as a group and have been described as pink collar workers.

Quaternary services represent a special type of service work, focusing on professional and administraive services, including financial and health service wrork, information processing, teaching, and governnent service as well as entertainment activity. 

Specialised technical, communication, and/or motivation and leadership skills provide the common thread inking these activities. Practically all quaternary activity occurs in office building environments or specialised environments provided by schools, theatres, hotels and hospitals, and we think of this group as the white collar workforce.  

The final grouping, quinary activities, remains more restricted in size in comparison to the other groups of activities just reviewed. The most visible persons in this group include chief executive officers and other top-management executives in both government and private service. Research scientists, legal authorities, financial advisers, and professional consultants who provide strategic planning and problem solving services belong to this cluster. Most of these high-order analytical and managerial activities occur in larger urban centres or in close proximity to large university, medical, and/or research centres. New York, London, and Tokyo, for example, being the primary world financial centres, possess a large number of specialised banking and other financial executives, giving them a very large cadre of quinary workers. An appropriate label for this group is the gold collar worker.

Service sector is often considered the largest and fastest-growing sector of the economy in developed countries, as it is driven by the increasing demand for services in modern societies.

It's important to note that the primary, secondary, and tertiary sectors of the economy are not mutually exclusive, and many economic activities involve elements of all three sectors. For example, a farmer may engage in primary sector activities such as growing crops, but may also engage in secondary sector activities such as processing the crops into food products, and may engage in tertiary sector activities such as selling the products at a farmers' market or restaurant.

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