The non-basic sector in the local economy is also referred to as what?

The non-basic sector in the local economy is referred to as the local sector because it encompasses businesses and services that primarily serve the local market instead of generating revenue from outside the community. This sector includes industries such as retail, healthcare, and local entertainment, which cater to the needs of residents rather than relying on external customers.

By contrast, the basic sector includes industries that produce goods or services for export, thereby bringing income into the local economy from outside sources. Recognizing the distinction between the local sector and the basic sector is important for understanding economic dynamics, as the local sector tends to reflect the existing population and their needs, while the basic sector can significantly impact job creation and overall economic growth.