Sectors of the Economy

Question 1

What are the three types of sectors?

Answer 1

1. Public Sector
2. Private Sector
3. Voluntary Sector

Question 2

What is the public sector?

Answer 2

Businesses that are run and funded by the government

Question 3

Where does the government get the funding for public sector businesses?

Answer 3

From taxes

Question 4

How are public sector businesses measured?

Answer 4

They are measured by service levels not by profit.

Question 5

Give 3 examples of businesses in the public sector?

Answer 5

1. NHS
2. Emergency Services
3. State Schools

Question 6

What is the private sector?

Answer 6

Businesses that are privately owned

Question 7

How are private sector businesses measured?

Answer 7

They are measured by the amount of profits the companies make.

Question 8

Give 4 examples of businesses in the private sector?

Answer 8

Sole Traders
Partnerships
Private Limited Companies
Public Limited Companies

Question 9

What is the voluntary sector?

Answer 9

Charities that raise money for a cause

Question 10

How are voluntary sector business measured?

Answer 10

They are measured by how much money they raise.

Question 11

Give 2 examples of businesses in the voluntary sector?

Answer 11

RSPCA
RSPB