Business Studies Chap 5

Question 1

What is the meaning of the primary sector

Answer 1

-Deals with the extraction of raw materials and natural resources
-These natural resources include such as livestock, fish

Question 2

What is the meaning of the secondary sector

Answer 2

-Transforms the raw materials from the primary sector into finished or semifinished new products.
-The raw materials from the primary sector are converted into new products

Question 3

What is the meaning of the tertiary sector

Answer 3

Refers to industries that offer services to other bus. and consumers
-Also known as the services industry, which exists to facilitate the transportation, distribution, and sale of goods produced in the secondary sector

Question 4

What is a Forward and a Backward Link

Answer 4

-Forward link: when businesses sell goods and services to businesses in the same sector or from bus. in another sector
-Backward link: when businesses buy goods and services from a bus. in the same sector or from a bus. in another sector.