Chapter 5 Business Sectors Flashcards
0
Q
Secondary sector
A
Manufactures and processes raw materials
1
Q
Primary
A
Raw materials and natural resources
2
Q
Tertiary sector
A
Service industry and final
3
Q
Informal
A
Not legally registered
Do not pay tax
Not added on GDP
4
Q
Characteristics of informal
A
Low capital
More labour intensive
Often operated from home
5
Q
Formal sector
A
Registered
Pay tax
On GDP
6
Q
Public sector
A
Controlled by government
7
Q
Private sector
A
Privately owned
Aim to make a profit
May serve community
