Day 9 – Q 1.What do you understand by the quinary sector? Where would you find the maximum concentration of the quinary sector?
1. What do you understand by the quinary sector? Where would you find the maximum concentration of the quinary sector?
आप क्विनरी सेक्टर से क्या समझते हैं? आपको क्विनरी सेक्टर की अधिकतम घनत्व कहां मिलेगी?
Synopsis:
Some economists subdivide the quaternary sector into the quinary sector, which includes the highest levels of decision making in a society or economy. This sector includes top executives or officials in such fields as government, science, universities, nonprofits, health care, culture, and the media. It may also include police and fire departments, which are public services as opposed to for-profit enterprises.
Economists sometimes also include domestic activities (duties performed in the home by a family member or dependent) in the quinary sector. These activities, such as child care or housekeeping, are typically not measured by monetary amounts but contribute to the economy by providing services for free that would otherwise be paid for.
Maximum concentration of Quinary sectors
1) Geographical Factors: Usually concentrated in major cities of country E.g.: Bangalore has huge concentration of startups and their top management bosses.
2) Human Resource factors: These sectors require highly educated people with relevant experience who can handle pressure therefore this sector is mostly concentrated in urban areas of country
3) Economic factors: Decision involving huge amount of money, resources need the help of experts so this sector is mostly dominated by developed countries.
4) Political factors: A stable polity allows growth of nation and its efficient practises encourage the decision makers to expand markets E.g.: India has been consistently improving its position in Ease of doing business which has encouraged many big MNCs and CEO to consider it as favourable market.
Quinary activities help the country’s GDP grow and hence India has been taking efforts to build a vast pool of talents who can become future CEO and Nobel laureates by concentrating on skill development and providing finances to budding entrepreneurs.
Best Answer: Aspirant123
Abhilasha
