Classification of businesses Flashcards

1
Q

What are the 3 main sectors of businesses

A

Primary sector
Secondary sector
Tertiary sector

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2
Q

What is the primary sector

A

The sector that extracts and uses natural resources o the earth

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3
Q

What is the secondary sector

A

The secondary sector manufacturers good using the raw material provided by the primary sector

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4
Q

What is the Tertiary sector

A

The tertiary sector provides gppd and services to both consumers and other businesses

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5
Q

How can you tell the importance if a sector in a country

A

The number of employees. The more employees, the more the output

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6
Q

In what type of country does the primary secotr have the most employed

A

Developing contries

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7
Q

What is the disadvantage of the primary sector

A

Resources can get used up

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8
Q

What is the disadvantage of secondary sector

A

Factory costs can get high.
Low payment

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