Chapter 2 Busines Sectors

Question 1

What the Primary sector?

Answer 1

Primary sector involves firms engaged in farming fishing, oil extraction and all other industries that extract natural resources so that they can be used and processed by other firms.

Question 2

What is the secondary sector?

Answer 2

Secondary sector involves firms that manufacture and process products from natural resources, including computers, brewing, baking, clothes making and construction.

Question 3

What is the Tertiary sector?

Answer 3

Tertiary sector involves firms that provide services to consumers and other businesses, such as retailing, transport, insurance, banking, hotels, tourism and telecommunication.

Question 4

What is Primary sector business activity?

Answer 4

Primary sector business activity makes use of natural resources in growing crops and gathering raw materials.

Question 5

What is Secondary sector business activity?

Answer 5

Secondary sector business activity makes products from the output of the primary sector

Question 6

What is Tertiary Sector business activity?

Answer 6

Tertiary sector business activity is the largest sector of industry and the fastest growing, it is providing a service.

Question 7

what is the Private Sector?

Answer 7

Private sector comprises business owned and controlled by individuals or groups of individuals

Question 8

What is the Public Sector?

Answer 8

Public sector comprises organisations accountable and controlled by central or local government