Question

Mention two quaternary activities.

Answer 1

Quaternary Sector of the Economy

The quaternary sector of the economy consists of intellectual activities often associated with technological innovation. Two examples of quaternary activities are:

1. Information Technology (IT) Services:

This includes software development, data processing, and consultancy services. IT professionals work with information and knowledge to create solutions and products.

2. Research and Development (R&D):

This involves scientific research and the development of new products and technologies. Scientists, researchers, and engineers in R&D are focused on creating new knowledge and applications.

For example, the formula for the rate of growth in R&D expenditure can be represented as:

\[ \text{Growth Rate} = \frac{{\text{Expenditure}_{\text{new}} - \text{Expenditure}_{\text{old}}}}{{\text{Expenditure}_{\text{old}}}} \times 100 \]