What does industry sector mean?
<answer> It is an area of the economy in which businesses share the same or a related product or service or a market that shares common operating characteristics. <context> What is a 'Sector'. A sector is an area of the economy in which businesses share the same or a related product or service. It can also be thought of as an industry or market that shares common operating characteristics. Dividing an economy into different pieces allows for more in-depth analysis of the economy as a whole. Next Up.