A business sector meaning pertains to the distinctions made between businesses. These distinctions are made according to industry or sector. There are multiple ways to classify businesses by sector. Some economists like to divide businesses according to corporate, nonprofit, and government organizations.
More often, the economy is divided into three sectors: the primary, secondary, and tertiary sectors. The only problem with this classification system is that it precludes the fourth sector, including government agencies and agencies that are government-controlled.
Business sectors are responsible for production. In fact, it's not so much a sector as a process that creates resources for production.
Production is the underlying process that combines resources and creates a valuable commodity or service. Usually, production involves a physical transformation of materials. For example, bauxite ore, iron ore, petroleum, and silicate sand are all used to create a high-powered automobile.