Business sectors Flashcards
1
Q
What are the 3 main business sectors?
A
- primary sector
- secondary sector
- tertiary sector
2
Q
What is the primary sector?
A
Industries that are classified in the primary sector extract raw materials and natural resources.
3
Q
What are some industries in the primary sector?
A
- Fishing.
- Mining.
- Farming.
- Forestry.
4
Q
What is the largest business sector in underdeveloped/developing countries, when calculating their GDP?
A
Primary sector.
5
Q
What is the GDP?
A
Gross Domestic Product is the total monetary value of all the goods and services produced within a country over a specific time period.
