classification of businesses

Question 1

what is primary sector

Answer 1

the extraction of natural resources such as agriculture, fishing, and forestry

Question 2

what are examples of primary sector businesses

Answer 2

agriculture, fishing, and forestry

Question 3

what is the secondary sector

Answer 3

manufacturing goods using raw materials from the primary sector, producing semi-finished or finished goods

Question 4

what are examples of secondary sector businesses

Answer 4

what are examples of secondary sector businesses

Question 5

what is the tertiary sector

Answer 5

selling products and providing services

Question 6

what are examples of tertiary sector businesses

Answer 6

banking, transport, and leisure services

Question 7

how are business sectors interdependent

Answer 7

businesses in one sector rely on others

Question 8

why do sectors grow or decline over time

Answer 8

due to costs, demand patterns, trends and tastes

Question 9

what is the trend in developed economies for workers in different sectors

Answer 9

few workers in the primary sector, moderate in the secondary sector, and most in the tertiary sector

Question 10

what is the trend in developing economies for workers in different sectors

Answer 10

a higher percentage of workers in the tertiary sector compared to the primary sector

Question 11

how does technology affect the secondary sector

Answer 11

advancements replace workers with machinery, reducing the demand for labor

Question 12

why do consumer preferences contribute to the decline in manufacturing

Answer 12

people spend more on services in the tertiary sector, reducing demand for manufactured products

Question 13

how does government spending contribute to growth in the tertiary sector

Answer 13

increased funding for public services shifts focus and employment toward the tertiary sector