The Sectors and Goods/Services Flashcards by maisy lane | Brainscape

Q

What is a Good

A

A physical product you can touch

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Q

What is a Service

A

Something intangible that is done for you

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Q

What are the Four Factors of Production

A

Land, Labour, Capital and Enterprise

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Q

What is the Primary Sector

A

The sector that extracts or gathers raw materials

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Q

What is the Secondary Sector

A

The sector that manufactors raw materials

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Q

What is the Tertiary Sector

A

A business that provides a service

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Q

What are humans five basic needs

A

Water,Shelter,Food,Warmth and Clothes

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