The group of people engaged in banking or insurance services by occupational distributions are classified as?
Question 1 Report
The group of people engaged in banking or insurance services by occupational distributions are classified as?
Answer Details
The group of people engaged in banking or insurance services are classified as tertiary producers. This is because the economy is divided into three sectors: primary, secondary, and tertiary. The primary sector involves the extraction and production of raw materials, such as farming and mining. The secondary sector involves the manufacturing and construction industries. The tertiary sector involves providing services, such as banking, insurance, healthcare, and education. Therefore, people who work in the banking or insurance services belong to the tertiary sector, also known as the service sector or service industry.
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