The Role of the Tertiary Sector in Global Commerce

Tertiary Sector

Tertiary sector activities are known as tertiary; any activities that constitute the means of exchange, presentation, and communication of products and services. It is the last sector of the economy, not being the least, but for being responsible for the final stage of the production route, i.e., product placement in the market.

Business: Its Importance

The tendency to exchange goods is as remote as the first human industries. What is today the international economic circuit, integrated into a global trading system, was once the barter of goods between"primitiv" tribes thousands of years ago. This trend has become one of the main features of contemporary society, which now conducts daily exchanges on a large scale, not only of goods and products but also of ideas, information, and knowledge.

As such, it has become a determining factor in the economies of all nations. In order to achieve favorable positions in the international market, nations implement a series of measures aimed at shaping the traffic of consumer goods and services, both internally and externally. These measures constitute what is known as trade policies.

The ideal place in which these activities are carried out is the market, defined as the set of purchases and sales made between various players. This exchange occurs both within nations, so-called internal market, and outside of them, called the international market or world economic circuit. The character and nature of the actors are varied, depending on the type of transaction involved, whether private equity and/or public.

The tertiary sector includes several policy areas, each with its own characteristics. While not pronounced enough to constitute completely separate categories, they have peculiarities in extent, areas of influence, and regulatory mechanisms. These are:

National or Internal Trade

This is made up of all commercial activities within the borders of a nation. Its most characteristic feature is the interactivity between different states, regions, or provinces within a country.

Regional Trade

This is made up of business activities conducted within the perimeters of a given region. Its dynamics are determined by proximity and the activity of any major city that stands as the main center of action in this area.

Local Trade

This takes place within the jurisdiction of a city, town, or locality.

International Trade

This takes place between the various states that comprise the international community. It is based on import and export activities.