Introduction to Business- Business Sectors Flashcards
What is a primary organisation?
Businesses who buy raw materials.
What is a secondary organisation?
Businesses who manufacture and assemble goods.
What is a tertiary organisation?
Businesses who support the production and distribution process.
Examples of primary organisations.
mining, fishing, farming, logging
Examples of secondary organisations.
building houses, bridges, roads.
Examples of tertiary organisations.
insurance, transport, advertising, warehousing.
What is a private sector organisation?
Businesses owned and run by private individuals, usually for profit.
What is a public sector organisation?
Businesses and organisations owned and run by local or central government, usually to provide a service.
What is a third sector organisation?
A term used to describe the range of organisations that are neither public sector nor private sector. Usually Charities
What is a local market?
Where customers are a short distance from suppliers.
What is a national market?
The supply and demand for all goods/services that are traded in a country.
What is an international market?
The marketing principles are in more than one country, by companies overseas or across national borders.
What is a national business?
A market where customers are spread throughout the country or over a large area.
What is a multinational business?
A business that has operations in more than one country.
