Classification of businesses Flashcards
What are the 3 main sectors of businesses
Primary sector
Secondary sector
Tertiary sector
What is the primary sector
The sector that extracts and uses natural resources o the earth
What is the secondary sector
The secondary sector manufacturers good using the raw material provided by the primary sector
What is the Tertiary sector
The tertiary sector provides gppd and services to both consumers and other businesses
How can you tell the importance if a sector in a country
The number of employees. The more employees, the more the output
In what type of country does the primary secotr have the most employed
Developing contries
What is the disadvantage of the primary sector
Resources can get used up
What is the disadvantage of secondary sector
Factory costs can get high.
Low payment