1.3 Classification of Businesses

Question 1

What are the Business Classifications?

Answer 1

1. Primary
2. Secondary
3. Tertiary
4. (Quarternary)

Question 2

What does every sector represent?

Answer 2

Primary, Extraction of raw materials; Anything to do with nature

Secondary, Refining natural materials; Manufacturing into finished/ semi-finished goods

Tertiary, Service Sector