Classification of Businesses + Random keywords Flashcards
1
Q
Private sector
A
Where private individuals own and run businesses with a goal of marking profit.
2
Q
Public sector
A
Where government own and run business ventures with a goal of providing essential public good and services.
3
Q
Tertiary Sector
A
All services that are provided in an economy.
4
Q
Secondary Sector
A
Manufacturing of goods using the resources from the primary sector
5
Q
Primary sector
A
Use/Extraction of natural resources
6
Q
Break-even
A
Total Costs = Total Revenue
7
Q
Return on capital employed
A
The amount of profit made for each dollar invested
