- What is the quinary sector?
- Characteristics of the quinary sector
- Importance of the quinary sector
- Examples of the quinary sector
- Other economic sectors
We explain what the quinary sector or fifth sector of the economy is, its characteristics and examples. In addition, the other economic sectors.
What is the quinary sector?
The quinary sector or fifth sector of the economy It is the division of human productive activity in which all non-profit services and other unprofitable (or even unpaid) activities are found, which, however, are essential for the support of society. society.
Many of the activities that are part of the quinary sector can also be classified in the secondary sectors Y tertiary of the economy, but with the proviso that these are not productive activities aimed at generating wealth, but rather to sustain the functioning of society and, with it, of the other economic sectors. For this reason, these activities have often been made invisible when thinking about the economy and production of societies.
It is important to mention that there is discrepancy between scholars and specialists about the definition of the quinary sector of the economy. Some authors define the quinary sector as the sector of knowledge and the innovation, and the quaternary sector as the sector in charge of managing the information.
Characteristics of the quinary sector
The quinary sector is characterized by the following:
- It is an unprofitable or non-profit economic sector, whose purpose is to provide stability to society and allow an environment conducive to economic activity. Therefore, it does not usually generate economic gains.
- It requires the other sectors to finance itself, since it usually depends on the taxes or contributions from productive activities for profit.
- Many of the activities in this sector could fit into other sectors, such as the tertiary (services).
Importance of the quinary sector
The quinary sector is fundamental so that certain minimum conditions of society are maintained, so that the other sectors can operate without interruptions. For example, fire departments must be able to fight fires and other incidents so that they do not impede the normal exercise of work and the normal production of goods and services.
Examples of the quinary sector
Services such as security and public health provide stability to society. Examples of activities in the quinary sector are:
- The security and attention bodies of the Conditionsuch as the police, firefighters, and border guards.
- The organisms of public healthsuch as hospitals, outpatient rooms, and ambulances.
- The education public primary, secondary and university.
- Unpaid domestic work.
- The participation of Non-Governmental Organizations (NGO) and other forms of political, social and ecological activism.
Other economic sectors
In addition to the quinary sector, the economy comprises the following sectors:
- Primary sector. Also called the first sector or productive sector, it is in charge of extracting and processing the raw material of nature so that it can feed the secondary sector, that is, so that it can be transformed into consumer goods. For example: A mining company.
- Secondary sector. Also called the second sector or manufacturing sector, it is responsible for transforming the raw material received from the primary sector into manufactured or consumer goods, that is, into products ready for the consumer obtain and use them, or in intermediate goods that feed other manufacturing industries. For example: A business who makes nails from iron sheets.
- Third sector. Also called the third sector or service sector, it is responsible for providing other sectors and consumers with some type of profitable service of a defined duration, whether it is maintenance, information, customer service, among others. For example: Transport companies or internet providers.
- Quaternary sector. Also called the fourth sector or research sector, it is responsible for innovating and producing new technologies that serve the rest of the sectors to produce more and better, or the consumer to improve their quality of life. It is the sector of the accumulation of knowledge. For example: Universities and applied technological innovation companies.