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  • Chapter 2

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    Mohammad Husnain
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    This document classifies businesses into four main sectors: the primary sector involves extracting natural resources; the secondary sector processes and manufactures goods from resources; the tertiary sector supplies services to consumers and other businesses. It also notes that the chain of production moves from extracting and processing raw materials to supplying final goods, and that a mixed economy features both private and public sector involvement.

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    This document classifies businesses into four main sectors: the primary sector involves extracting natural resources; the secondary sector processes and manufactures goods from resources; the tertiary sector supplies services to consumers and other businesses. It also notes that the chain of production moves from extracting and processing raw materials to supplying final goods, and that a mixed economy features both private and public sector involvement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    4 views2 pages

    Chapter 2

    Uploaded by

    Mohammad Husnain
    This document classifies businesses into four main sectors: the primary sector involves extracting natural resources; the secondary sector processes and manufactures goods from resources; the tertiary sector supplies services to consumers and other businesses. It also notes that the chain of production moves from extracting and processing raw materials to supplying final goods, and that a mixed economy features both private and public sector involvement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Chapter 2 = Classification of

    businesses
    1- Primary sector: Firms whose business
    activity involves the extraction of natural
    resources.
    2- Secondary sector: Firms that process and
    manufactures goods from natural resources.
    3- Tertiary sector: Firms that supply a service
    to consumers and other businesses.
    4- Chain of production: The production and
    supply of goods to the final consumer
    involves the extraction of primary, secondary
    and tertiary sector businesses.
    5- Mixed economy: An economy where all
    resources are owned and controlled by both
    the private and the public sector.
    6- Private sector: The part of the economy
    that is owned and controlled by individuals
    and companies for profits.
    7- Public sector: The part of the economy
    that is controlled by the state or a
    government.

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