Business Sectors Flashcards
BUSINESS
What is the primary sector?
Businesses that extract raw materials from the earth
What is the secondary sector?
Businesses that manufacture or process raw materials into finished goods
What is the tertiary sector?
Businesses that provide services to consumers and other businesses
Describe the relationship between the primary and secondary sectors
The primary sector provides raw materials for the secondary sector to manufacture goods
Describe the relationship between the secondary and tertiary sectors
The secondary sector produces goods that are sold or used by the tertiary sector
Describe the relationship between the primary and tertiary sectors
The primary sector may sell their raw materials to the tertiary sector, or use the tertiary sector for transportation