Tertiary industry, or the service sector, encompasses businesses that provide services rather than tangible goods. This part of the economy includes activities such as retail, entertainment, healthcare, education, finance, transportation, and hospitality. Unlike primary industries, which extract raw materials, and secondary industries, which manufacture goods, the tertiary industry focuses on delivering experiences and expertise to consumers and businesses.
This sector is crucial for economic growth, as it not only supports other industries but also responds to changes in consumer demands, making it an essential concept for studying business dynamics in the GCSE curriculum.
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