Role Of Business In Society Flashcards
1
Q
What are the four sectors of industry?
A
- primary sector
- secondary sector
- tertiary sector
- quaternary sector
2
Q
What is the primary sector?
A
- this consists of businesses that are involved in exploiting natural resources
- examples include farming, mining and oil drilling
3
Q
What is the secondary sector?
A
- this consists of businesses that are involved in manufacturing and construction, by taking natural resources and turning them into goods that can be sold later.
- examples include electronics manufacture, car production and house building
4
Q
What is the tertiary sector?
A
- this consists of businesses and organisations that are involved in providing services rather than goods
- for example retail outlets, banks, hotels and hospitals
5
Q
What is the Quaternary sector?
A
- this consists of businesses providing information and knowledge-based services
- for example ICT and consultancy
