- There are four economic sectors.
- The primary sector involves agriculture
- The secondary sector involves manufacturing
- The tertiary sector provides services
- The quaternary sector involves education
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- Economic Sectors Australia:
- In Australia about 6% of land is farmed. Some major crops are wheat, barley, sugarcane, and fruits. Just because Australia is very good in their agriculture, this leads to more farmers. When their is more jobs this increases the employment rate which leads to expansions because of increase in GDP. Its GDP for composition for agriculture is 3.7%. Some industries are mining, industrial and transportation equipment, food processing, chemicals and steel. Its GDP for manufacturing is 28.9%. Services is big part of Australia’s economy. Its GDP for composition for services is 67.4%. This also led to 75% of jobs in Australia's economy. This leads to economic growth because more jobs equals to higher GDP.
- Economic Sectors: United States
- In the United States about 18% of land is farmed. Some agricultural products are wheat, corn, other grains, fruits, vegetables, cotton; beef, pork, poultry, dairy products; fish; forest products. Its GDP for composition for agriculture is 1.6%. Compared to United States, even though they have more farmland, Australia still has a higher GDP for composition for agriculture. United States corporation's main production is steel, automobiles, pharmaceuticals, aircraft, petroleum refining, computers, soaps and detergents, tires, and communications equipment in the U.S. Its GDP for composition for manufacturing is 20.8%. Services are the largest importer and exporter of goods and services. Its GDP for composition for services is 77.6%. In addition, because the GDP is so high, this leads to economic growth and which also leads to more jobs.