Business sector

Economic sectors
Three-sector model
Primary sector: raw materials Secondary sector: manufacturing Tertiary sector: services
Additional sectors
Quaternary sector: information services Quinary sector: human services
Theorists
AGB Fisher · Colin Clark · Jean Fourastié
Sectors by ownership
Business sector · Private sector · Public sector · Voluntary sector

In economics, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the economy made up by companies".^[1] It is a subset of the domestic economy,^[2] excluding the economic activities of general government, of private households, and of non-profit organizations serving individuals.^[3] An alternative analysis of economies, the three-sector theory, subdivides them into:

the primary sector (producing raw materials)
the secondary sector (carrying out manufacturing)
the tertiary sector (providing sales and services)

In the United States the business sector accounted for about 78 percent of the value of gross domestic product (GDP) as of 2000.^[3] Kuwait and Tuvalu each had business sectors accounting for less than 40% of GDP as of 2015.^[4]

References

↑ Longman Business English Dictionary
↑ But compare Keese, Mark; Salou, Gérard; Richardson, Pete (1991). The measurement of output and factors of production for the business sector in OECD countries: the OECD business sector database. OECD Department of Economics and Statistics working papers. 95-101. Organisation for Economic Co-operation and Development. p. i. Retrieved 2015-06-07. [...] recent work of the OECD Economics and Statistics Department to construct an international Business Sector Data Base (BSDB) for use in a wide variety of analyses of production and supply issues [...].
1 2 "BLS Information". Glossary. U.S. Bureau of Labor Statistics Division of Information Services. February 28, 2008. Retrieved 2009-05-05.
↑ "1: Overview: Opportunities and challenges for Myanmar". OECD Development Pathways Multi-dimensional Review of Myanmar. 3: From Analysis to Action. Paris: OECD Publishing. 2016. p. 29. ISBN 9789264256545. Retrieved 2017-12-27. The countries that have general government revenue more than 60% of GDP are Kiribati, Kuwait, Lesotho, Micronesia and Tuvalu. Source: IMF (2015), World Economic Outlook (database), International Monetary Fund.

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Business sector

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References

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