Sectors of the economy LEAVE LINES OPEN

[INDICATED IN BRACKETS] , TO WRITE IN YOUR ANSWERS

PAGE 111

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Primary, Secondary

Tertiary

Private & Public sectors

Formal & informal

sectors

Sectors of the economy PAGE 111

Aims:

[1 + 2 + 4 each = 7 lines open each ]

Identify the 3 different kinds of

sectors

Explain each of the 3 sectors

Provide examples of each sector.

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Primary, Secondary

Tertiary

Private & Public sectors

Formal & informal sectors

Sectors of the economy

Primary sector

Definition Pg 112

5 examples? Pg 128

Mining, Fishing, Forestry, Farming,

Secondary sector

Definition Pg 116

Examples? Pg 128

Important aspects

Tertiary sector P120

Definition

Types of services Pg 121/8

Examples?

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5

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Interdependence The different business environments and

sectors cannot operate independently – they

depend on each other for inputs.

Example

The tertiary sector depends on the secondary

sector for manufactured goods.

The secondary sector depends on the primary

sector for raw materials and the tertiary sector

for services.

The primary sector depends on the tertiary

sector for services and the secondary sector

for demand of raw materials.

All the sectors depend on the public sector for

the provision of electricity, water etc.

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Primary, Secondary Tertiary

Private & Public sectors

Formal & informal sectors

Production process

Primary

Secondary

Tertiary

• Transport

• Insurance

• Storage

• Banking

• Marketing

• Security

Raw materials

Finished & semi-

finished goods

Sales Services

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Primary, Secondary Tertiary

Private & Public sectors

Formal & informal sectors

Sectors of the economy

Aims:

Differentiate between

the private [7] & public [7] sectors

Pg 112 & 120

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Primary, Secondary Tertiary

Private & Public

sectors

Formal & informal sectors

Sectors of the economy

Private sector enterprises

Businesses owned by private

citizens. You and me

NOT State funded nor owned by the

state.

Privately capital invested in

businesses.

Pick ‘n Pay, SPAR, Name three more

examples.

Main aim: To maximise profit

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Primary, Secondary Tertiary

Private & Public sectors

Formal & informal sectors

Sectors of the economy

Public sector enterprises

Central government owns the

businesses.

Funded by state money received from

1. Taxing private citizens,

2. Company tax,

3. VAT.

Eg. Eskom, Post Office, Police.

Main aim: provide essential services,

facilities to the public/private citizens.

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Primary, Secondary Tertiary

Private & Public sectors

Formal & informal sectors

Sectors of the economy

Aims:

Differentiate between

the informal and formal sectors

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Primary, Secondary Tertiary

Private & Public sectors

Formal & informal sectors

Sectors of the economy Informal sector

These businesses are NOT included in the

GDP because the government does not know

about their existence & can not receive tax

from them.

Examples:

• Trading & hawking

– Selling fruit or clothes at traffic lights

• Production & construction

– Making beaded jewellery, building shacks

• Services

– Cutting hair, fixing cars in backyards

• Illegal activities

– Selling drugs

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Primary, Secondary Tertiary

Private & Public sectors

Formal & informal sectors

Sectors of the economy Formal sector

Registered businesses that are included in the

GDP of a country.

The government knows about them and they

pay tax to the government.

Examples:

• Pick ‘n Pay, Anglo American etc.

GDP = the total value of all final goods &

services produced in a country in one year.

ECONOMIC GROWTH & DEVELOPMENT

PAGE 127

• DEFINITIONS.

• ECONOMIC DEVELOPMENT

MEANS:

• Provide three explanations [6]

• FULL SENTENCE = 2 Marks

each

• ACT 5.1 Complete the table.

Pg 129

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Sectors = fun

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