Passage:
The Quaternary Sector along with the Tertiary Sector has replaced most of the primary and secondary sectors on the basis of economic growth. More than half of workers in developed economies are in the services sector. Knowledge-oriented services are growing due to the demand for consumption of information-based services from mutual fund managers to tax consultants, software engineers and statisticians. Personnel working in office buildings, elementary schools and university classrooms, hospitals and doctors’ offices, theatres, accounting and brokerage firms all belong to this category of services.
Like some of the tertiary functions, quaternary activities can also be outsourced. They are not tied to resources, affected by the environment, or necessarily localised by market.