Business sectors

Question 1

Primary sector

Answer 1

-Focuses on activities related to the extraction of raw materials

-It is dependent on nature because it uses the earth’s natural resources

Question 2

Secondary sector

Answer 2

-Focuses on activities related to the manufacturing of products

-It uses raw materials sourced by the primary sector and adds value to them

Question 3

Tertiary sector

Answer 3

-Focuses on activities related to providing a final product or service to customers

-It involves all activities aimed at making the distribution of products or services possible

Question 4

Micro environment

Answer 4

-Refers to the business itself, characterised by the business functions within the business

-Full control

-Challenges:
Strikes
Difficult employees
Outdated goals
Poor working conditions

Question 5

Market environment

Answer 5

-Refers to the factors immediately outside the business

-Partial control

-Challenges:
Competition
Shortage of supply
Demographics
Socio-cultural factors

Question 6

Macro environment

Answer 6

-Refers to the external uncontrollable factors outside the business

-No control

-Challenges:
Technological advances
Political changes
Labour restrictions
Globalisation