Market sector
The term market sector is used in economics and finance to describe a part of the economy. It is usually a broader term than industry, which is a set of businesses that are buying and selling such similar goods and services that they are in direct competition with each other.[1]
According to the national accounts terminology used by the OECD, the business sector is also known as the market sector. This designation refers to the existence of a market with recorded sales, transactions, and prices that permit the direct measurement of output. In this framework, the market sector coincides with the business sector.[2]
See also
[edit]References
[edit]- ↑ "Fidelity Learning Center: What are sectors and industries? A guide to frequently asked questions". Fidelity Investments.
- ↑ Lequiller, François; Blades, Derek (2014). Understanding National Accounts (PDF) (2nd ed.). OECD Publishing. p. 133. ISBN 978-92-64-21462-0.
The definition of output at current prices as equal to sales plus changes in inventories of finished products and work in progress is applicable to virtually the totality of the business sector in the national accounts. This sector is also known as the market sector, for which there exists a market with recorded sales, transactions and prices that permit the direct measurement of output.
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