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Define Secondary sector.

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Secondary Sector:

  • It is known as the manufacturing sector.
  • This sector transforms one good into another by creating more utility from it.
  • The secondary sector is organized and uses better methods of production.
  • It includes manufacturing units, small scale units, large firms and multinational corporations.
  • The employment rate is in equilibrium as a specialized set of skills is required to find employment in this sector.

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