Business Classifications Flashcards
1
Q
What is the primary sector
A
Raw material are grown extracted or mined (first stage if production)
2
Q
What is the secondary sector
A
Where materials are processed and turned into goods through manufacturing (second stage of production)
3
Q
What is the tertiary sector
A
Goods or services are provided to the public and other businesses
4
Q
What is interdependence
A
Every business sector rely on other sectors
5
Q
What is the chain of production
A
It is the diagram that shows the interdependence of a product
