sectors of industry

Question 1

describe the primary sector

Answer 1

this consists of businesses that are involved in exploiting natural resources. examples include: farming, oil drilling and mining.

Question 2

describe the secondary sector.

Answer 2

this consists of business that are involved in manufacturing and construction, by taking natural resources and turning them into goods that can be sold later. examples include: car production, electronics manufacture and house building.

Question 3

describe the tertiary sector.

Answer 3

this consists of businesses and organisations that are involved in providing services rather than goods. examples include: retail outlet, banks, hotels and hospitals.

Question 4

describe the quaternary sector.

Answer 4

this consists of businesses providing information and knowledge-based services such as: ICT(information and communication technology), consultancy (offering advice to businesses) and R&D (research and development)

Question 5

describe adding value

Answer 5

businesses will add value to products as they move through different sectors of industry.

E.g. denim jeans manufacturer (secondary) take raw materials like cotton which they have paid £1 for and turn them into a pair of jeans they sell for £20. This has added value of £19.