Classification Of Businesses

Question 1

Primary sector

Answer 1

Produces raw materials by extracting and using natural resources , eg:oil

Question 2

Secondary sectors

Answer 2

Manufacturing the goods turning raw materials into finished goods

Question 3

Tertiary sector

Answer 3

Provides services to consumers and other sectors of the industry

Question 4

Public sector

Answer 4

When a business is formed by the government and share their shares to the public

Question 5

Private sector

Answer 5

When the business is driven by profit maximisation and cant sell shares to the public