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Encyclopedia > Quaternary sector of industry
Sectors and Systems
  Closed economy
  Dual economy
  Gift economy
  Informal economy
  Market economy
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  Participatory economy
  Planned economy
  Subsistence economy
  Underground economy
Real-World Examples and Models  
  Anglo-Saxon economy
  American School
  Global economy
  Hunter-gatherer economy
  Information economy
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  Social market economy
  Transition economy
Ideologies and Theories
  Capitalist economy
  Corporate economy
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The Quaternary sector of industry is the sector of industry that involves the intellectual services. That is research, development, and information. It is considered the fourth basic industry out of all of them: primary, secondary, tertiary and quaternary. It was once, and by some still is, considered just a subset of the general service-oriented tertiary sector of industry. Commons:Image:Gold ingots. ... An autarky is an economy that does no trade with the outside world, or an ecosystem not affected by influences from its outside, and relies entirely on its own resources. ... Dual economy is the existence of two separate economic systems within one region; common in the less developed countries, where one system is geared to local needs and another to the global export market. ... A gift economy is an economic system in which the prevalent mode of exchange is for goods and services to be given without explicit agreement upon a quid pro quo, or the concept of a favor for a favor in the Latin language. ... A market economy (aka free market economy and free enterprise economy) is an economic system in which the production and distribution of goods and services takes place through the mechanism of free markets guided by a free price system rather than by the state in a planned economy. ... A mixed economy is an economy that has a mix of economic systems. ... An open economy is an economy in which people, including businesses, can trade in goods and services with other people and businesses in the international community at large. ... Participatory economics, often abbreviated parecon, is a proposed economic system that uses participatory decision making as an economic mechanism to guide the allocation of resources and consumption in a given society. ... A planned economy most often refers to an economic system that is under comprehensive control and regulation by a government in accordance with a plan of economic development. ... Media:Example. ... The underground economy consists of all trade that occurs without detection by government so that commerce and income are not taxed. ... Anglo-Saxon economy or Anglo-Saxon capitalism (so called because it is largely practiced in English speaking countries such as Australia, the United Kingdom and the United States) is a capitalist macroeconomic model in which levels of regulation and taxes are low, and the quality of state services and social... The American School also known as National System in politics, policy and philosophy represents three different yet related things. ... It has been suggested that this article or section be merged with World economy. ... In anthropology, the hunter-gatherer way of life is that led by certain societies of the Neolithic Era based on the exploitation of wild plants and animals. ... Information economy is a loosely defined term to characterize an economy with increased role of informational activities and information industry. ... The term, originated by the Organization for Economic Cooperation and Development (OECD), describes nations of the Third World that have enjoyed rapid economic growth and can be described as middle-income countries. ... A palace economy is a system of economic organisation in which wealth flows out from a central source (the palace), eventually reaching the common people, who have no other source of income. ... This article is in need of attention. ... The Social market economy was the German and Austrian economic model during the Cold War era. ... A transition economy is an economy which is changing from a planned economy to a free market. ... For other uses, see Capitalism (disambiguation). ... Historically, corporatism or corporativism (Italian corporativismo) is a political system in which legislative power is given to civic assemblies that represent economic, industrial, agrarian, and professional groups. ... Natural economy refers to a type of economy in which money is not used in the transfer of resources among people. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... A token economy is a system of behavior modification based on the principles of operant conditioning. ... Image File history File links Portal. ... An intellectual is a person who uses his or her intellect to study, reflect, speculate on, or ask and answer questions with regard to a variety of different ideas. ... In economics and marketing, a service is the non-material equivalent of a good. ... The service sector or the service industry, is one of the three main industrial categories of a developed economy, the others being the secondary industry (manufacturing and primary goods production such as agriculture), and primary industry (extraction such as mining and fishing). ...

This includes the high technology industry, with information and communication technology and some forms of scientific research, as well as education and consulting, and information industry. High tech refers to high technology, technology that is at the cutting-edge and the most advanced currently available. ... Information technology (IT) or information and communication technology (ICT) is the technology required for information processing. ... Science in the broadest sense refers to any system of knowledge attained by verifiable means. ... Management consulting (sometimes also called strategy consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the firms that specialize in this sort of consulting. ... Information industry or information industries is a loosely defined term for industries that are information intensive in one way or the other. ...

The quaternary sector can be seen as the sector in which companies invest in order to ensure further expansion. Research will be directed into cutting costs, tapping into markets, producing innovative ideas, new production methods and methods of manufacture, amongst others. To many industries, such as pharmaceutical giants such as Pfizer, the sector is the most valuable because it creates future branded products which the company will profit from.

According to some definitions, the quaternary sector also includes all other pure services, such as the entertainment industry. There is also the notion of a "quinary sector" which would encompass health, education, culture and research. The entertainment industry consists of a large number of sub-industries devoted to entertainment. ... The term culture industry was coined by Theodor Adorno (1903-1969) and Max Horkheimer (1895-1973). ...

Written by Georgina Care and Alastair Herd done for business studies Information from Jake Flynn

See also

  Results from FactBites:
Quaternary sector of industry - Wikipedia, the free encyclopedia (151 words)
The quaternary sector of industry is the sector of industry that involves the intellectual services.
It was once considered just a subset of the general service-oriented tertiary sector of industry.
This includes the high tech industry, with information technology and some forms of scientific research, as well as education and consulting, and information industry.
America's Industry Authority (322 words)
An industry is generally any grouping of businesses that share a common method of generating profits, such as the "movie industry", the "automobile industry", or the "cattle industry".
Industry in the second sense became a key sector of production in European and North American countries during the Industrial Revolution, which upset previous mercantile and feudal economies through many successive rapid advances in technology, such as the development of steam engines, power looms, and advances in large scale steel and coal production.
Following the Industrial Revolution, perhaps a third of world's economic output is derived from manufacturing industries—more than agriculture's share, but now less than that of the service sector.
  More results at FactBites »



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