Unit 1 - 1.1 (Types of Business Activity) Flashcards
Three main activities that a business undergoes to go from the raw materials to a finished product or service sold to customers or other businesses.
1
Q
Primary Activity (sector) ?
A
The extraction or harvesting of raw materials. (e.g - farming, fishing, agriculture, mining …)
2
Q
Secondary Activity (sector) ?
A
Manufacturing of finished products sold to customers or components sold to other businesses.
3
Q
Tertiary Activity (sector) ?
A
The provision of services or finished product to customers or other businesses. (e.g - retailers, transportation)
