Which type of industry focuses primarily on selling services rather than goods?

Prepare for the SACE Stage 2 Economics exam with a comprehensive quiz. Study through flashcards and multiple-choice questions, each featuring hints and explanations for thorough understanding. Get ready for your exam!

The tertiary industry is focused primarily on providing services instead of manufacturing goods. This sector includes a wide variety of activities such as retail, hospitality, healthcare, transportation, finance, education, and entertainment. The defining feature of the tertiary industry is that it adds value by facilitating the consumption of goods and services rather than producing tangible products. This distinguishes it from the primary industry, which involves the extraction of raw materials, and the secondary industry, which is centered on manufacturing and processing those materials into finished goods.

While the quaternary industry focuses on knowledge-based services such as research, technology, and information services, it still falls under the broader category of the tertiary industry. The emphasis on services is what primarily categorizes the tertiary industry as the one focusing on providing service-based activities.

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