Banking, insurance, and teaching are examples of which industry?
Answer Details
Banking, insurance, and teaching are examples of the tertiary industry.
The tertiary industry refers to the service sector of an economy, which involves the provision of services to individuals and businesses. This industry includes activities such as banking, insurance, education, healthcare, hospitality, and professional services such as accounting, consulting, and legal services.
In contrast, the primary industry refers to the sector of an economy that involves the extraction and production of natural resources, such as agriculture, forestry, fishing, and mining. The secondary industry refers to the sector of an economy that involves the manufacturing of goods, such as the production of cars, clothing, electronics, and other products.
So, banking, insurance, and teaching are examples of the tertiary industry because they are service-based industries that provide services to individuals and businesses, rather than producing goods or extracting natural resources.