Outline tertiary sector production and the major characteristics of postindustrial economies

Question

What will be an ideal response?

Answer 1

A postindustrial economy is based on tertiary sector production—the provision of
services rather than goods—as a primary source of livelihood for workers and profit
for owners and corporate shareholders.
Tertiary sector production includes a wide range of activities, such as fast-food
service, transportation, communication, education, real estate, advertising, sports, and
entertainment. A majority of U.S. jobs are in tertiary sector employment. Several
characteristics are central to the postindustrial economy: 1 . Information displaces
property as the central preoccupation in the economy. 2 . Workplace culture shifts
away from factories and toward increased diversification of work settings, the
workday, the employee, and the manager. Increasing numbers of people are being
affected by layoffs and outsourcing. 3 . The conventional boundaries between work
and home (public life and private life) are breached. Cell phones, pagers, fax
machines, laptop computers, and similar products make it possible for people to work
around the clock from locations around the globe.
Projections by the Census Bureau indicate that the fastest-growing occupations of the
21st century are in the service sector.