CLASSIFICATION OF BUSINESS
- Primary sector of industry extracts and uses the natural resources of Earth to produce raw materials used by other businesses.
- Secondary sector of industry manufactures goods using the raw materials provided by the primary sector.
- Tertiary sector of industry provides services to consumers and the other sectors of industry.
- De-industrialisation occurs when there is a decline in the importance of the secondary, manufacturing sector of industry in a country.
- Mixed economy has both a private sector and a public (state) sector.
- Capital is the money invested into a business by the owners.
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classification_of_businesses.pdf |