The Nature of Business Flashcards
1
Q
What is a sector?
A
Larger segments of the economy that can include various industries.
2
Q
What is an industry?
A
a classification that refers to a group of companies that are related in terms of their primary business activities
3
Q
What are examples of business sectors?
A
- Production
- Energy
- Finance
- Public sector
- Insurance
- Healthcare
4
Q
Early peoples used nature to satisfy their basic needs for food, clothing, and shelter. Examples of these are…
A
Sheep》Wool 》Clothing
Sugar cane 》Molasses
5
Q
What is subsistence?
A
Meeting your basic needs
6
Q
More on subsistence: people used to exchange their goods for goods from other tribes that they weren’t able to source easily. Name TWO examples.
A
- Jungle dwellers had much housing/clothing material.
- River dwellers had much fish and plant crops.
7
Q
The area the early peoples lived determined…
A
…the goods they had access to and multiplied.
