Chapter 2

Question 1

Primary sector

Answer 1

Business that extract and use natural resources to produce raw material

Question 2

Secondary sector

Answer 2

Businesses that manufacture goods using the raw materials provided by the primary sector

Question 3

Tertiary sector

Answer 3

Businesses that provide services to consumers and other firms

Question 4

Deindustrialisation

Answer 4

Decline in the importance of secondary, manufacturing industry

Question 5

Mixed economy

Answer 5

This has both private sector businesses and public sector businesses

Question 6

Private sector

Answer 6

Businesses owned by people, not the government/state

Question 7

Public sector

Answer 7

Businesses owned by the government/state

Question 8

Privatisation

Answer 8

The sale of public sector businesses to the private sector