LO1: business activity Flashcards
1
Q
What are the three business sectors?
A
1.primary sector
2.secondary sector
3.tertinary sector
2
Q
what is the primary sector?
A
businesses that make direct use of natural resources.
3
Q
what is the secondary sector?
A
businesses that manufacture products using raw materials.
4
Q
what is the tertiary sector?
A
businesses that provide a service to customers
5
Q
examples of primary sector include
A
-agriculture
-fishing
-forestry
-mining
6
Q
examples of secondary sector include
A
-engineering
-manufacturing
-construction
7
Q
what is the chain of production?
A
the process through which a product is transformed from raw materials into a finished product, ready to be consumed/
