Final answer:
Open source software is developed and maintained by a global community of programmers and is freely available, typically falling under the quaternary sector of an economy which is focused on knowledge-based services and IT.
Step-by-step explanation:
The type of software that is created and updated by a worldwide community of programmers and is available for free is known as open source software. Open source software is distinguished by its licensing, which allows anyone to inspect, modify, and distribute the software. This is in contrast to closed source (proprietary) software, which does not provide the end user with the original source code or the same freedoms to alter and share the software.
In terms of sectors of an economy, a software developer would typically work in the quaternary sector. This sector includes services such as information technology, research and development, and other knowledge-based services. The quaternary sector is characterized by a high degree of intellectual engagement and expertise.