Classification of businesses Flashcards
1
Q
The primary sector
A
The primary sector of industry extracts and uses the natural resources of Earth to produce raw materials used by other businesses.
2
Q
The secondary sector
A
The secondary sector of industry manufactures goods using the raw materials provided by the primary sector.
3
Q
The tertiary sector
A
The tertiary sector of industry provides services to consumers and the other sectors of industry.
4
Q
De-industrialisation
A
Occurs when there is a decline in the importance of the secondary, manufacturing sector of industry in a country.
5
Q
A mixed economy
A
An economy that has both a private sector and a public (state) sector.
6
Q
Capital
A
Is the money invested into a business ness by the owners.
