classification of businesses
TRANSCRIPT
Classification of businesses
Sectors of the economy Primary
Businesses which extract natural resources
Secondary Firms that process and manufacture
goods from natural resources
Tertiary Firms that supply a service to
consumers and other businesses
Sectors
Primary
Secondary
Tertiary
Chain of production
Primary
Secondary
Tertiary
Chain of production
Primary
Secondary
Tertiary
Chain of production
Primary
Secondary
Tertiary
Interdependence – each sector relies on the other sectors.
Changes over time ...
Homework What is meant by the term primary
sector? (2)
Identify two businesses that operate in the tertiary sector (2)
Identify and explain two differences between the primary and secondary sectors (6)
Public and private sectors
Private sector – part of the economy that is owned and controlled by individuals and companies for profit
Public sector – the part of the economy that is controlled by the state or government
Public vs Private sector
Police vs security guard
Hospitals
Schools
Housing
Changes in sectors of the economyLDC
MDC
Hong Kong
USA
UK
China
Activity 2.4
Q1
Q2
Q3
Q4
Test yourself page 25
Types of economy
Mixed
Planned
Free
Public vs private sector decisions
Test yourself page 26
Q1
Q2
Q3
Q4
Q5