Stages of production Flashcards
1
Q
What are the three stages of production?
A
Primary stage, secondary stage and tertiary stage.
2
Q
What is the primary stage of production?
A
Extracting raw material, e.g. fishing, farming, mining.
3
Q
What is secondary stage of production?
A
Manufacturing goods from raw materials. e.g. making cars, processing food.
4
Q
What is tertiary stage of production?
A
The stage of production that involves providing services, such as retail, healthcare, education, and entertainment, rather than creating physical goods.
