Economic Sectors In Terms Of Primary, Secondary And Tertiary Sectors:
Muhtasari
A cocoa farmer in Ghana, a chocolate factory in Switzerland and the corner shop that sells you the finished bar are all part of the same story, yet each belongs to a different part of the economy. Sorting businesses into primary, secondary and tertiary sectors is the first big idea in Business Studies: it explains how raw materials become products and then reach you.
In this lesson you will learn how to classify any business with confidence, and then go a step further: you will explain why the balance between the three sectors shifts as a country develops, and why a tertiary sector that was tiny fifty years ago can now employ most of the workforce. By the end you can read a country's economy from its sector mix.
Malengo
- Basis of business classification, using examples to illustrate the classification
- Reasons for the changing importance of business classification, e.g. in developed and developing economies
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- Which business is in the primary sector? A. a car factory B. a tin mine C. a hairdresser D. a supermarket Answer: B
- A business that refines crude oil into petrol is in the: A. primary sector B. secondary sector C. tertiary sector D. public sector Answer: B
- As an economy becomes more developed, the sector that usually grows in importance is the: A. primary sector B. secondary sector C. tertiary sector D. agricultural sector Answer: C
- The decline in the relative importance of manufacturing in a country is called: A. industrialisation B. globalisation C. de-industrialisation D. privatisation Answer: C
- Which activity is in the tertiary sector? A. growing wheat B. baking bread C. delivering parcels D. mining copper Answer: C
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