Business sectors

Question 0

What does the primary sector do?

Answer 0

Harvests , collects, extracts raw materials from natural resources

Question 1

What is meant by primary, secondary and tertiary sectors?

Answer 1

The sectors we use to classify businesses into groups

Question 2

Secondary Sector?

Answer 2

Processes raw materials and supplies it to the tertiary sector

Question 3

Tertiary Sector.?

Answer 3

Bring the products to the end consumers included auxiliary services- transport , storage etc

Question 4

What is the formal business sector?

Answer 4

Formally registered to operate under an acknowledged form of ownership. Pay tax and have records audited.

Question 5

What is the informal sector?

Answer 5

All businesses that are not formally registered. Includes criminal activities like prostitution.

Question 6

What is the public sector?

Answer 6

All businesses which belong to the 3 levels of government. Funded bu taxes. Usually not profitable without support from taxes.

Question 7

What is the private sector?

Answer 7

Includes all businesses which belong to individuals or groups of private people. Usually operate to make a profit. Must find their own fundings.