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    Business Sectors

    Uploaded by

    sneakytricks101
    grade 11 business

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Business Sectors

    Uploaded by

    sneakytricks101
    2 views2 pages
    grade 11 business

    Original Title

    ✅business sectors

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    © © All Rights Reserved

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    grade 11 business

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2 views2 pages

    Business Sectors

    Uploaded by

    sneakytricks101
    grade 11 business

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Business sectors

    Primary Secondary Tertiary

    The primary sector deals The secondary sector The tertiary sector refers
    with the extraction transforms the raw to industries that offer
    materials from the services to other
    /collecting/ cultivating of
    primary sector into businesses and
    raw materials and finished or unfinished consumers.
    natural resources. products. Also known as services
    industry, which exists to
    These natural resources In this sector, the raw facilitate the
    include things such as materials from the transportation,
    livestock, fish, timber, primary sector are distribution and sale of
    coal and gold. converted into new goods produced in the
    products. secondary sector.

    ➢ Financing
    • Agriculture ➢ Hospitality
    ▪ Manufacturing
    • Fishing ➢ Retailers
    ▪ Construction
    • forestry ➢ Wholesalers
    ▪ Factories
    • Mining ➢ Storage
    ▪ Electricity generation
    ➢ Tourism
    ➢ Transportation

    Forestry: the industry of growing, taking care and managing trees and forests.

    Mining: the extraction of valuable minerals and metals such as coal, diamond, gold,
    silver, platinum, copper, tin and iron.

    Manufacturing: the processing of raw materials or parts into finished goods throughthe
    use of tools, human labour, machinery and chemical processing.

    Insurance: a contract by which businesses undertake ot provide a guarantee of


    compensation for specified loss, damage, illness or death in return for payment of a
    specified premium.
    Link/relationship
    ➢ The primary, secondary and tertiary sectors all work together to create an economic
    chain of production.
    ➢ The primary sector extracts the raw materials, the secondary sector transforms the
    raw materials into products, and the tertiary sector sells the products and supports
    the activities of the other two sectors.
    ➢ Business sectors are therefore interrelated and connected with each other.

    Forward link: when businesses sell goods and services to businesses in the same
    sector or to businesses in another sector.

    Trees harvested [primary] ➔ paper manufactured [seconday] ➔ retailers sell final


    product. [tertiary]

    Backward link: when businesses buy goods and services from businesses in the same
    sector or from businesses in another sector.

    (Rely on other businesses to perform some of their functions in order to operate


    effectively- these functions are not the core activity of the business)

    Manufacturing company [secondary] provides mining company [primary], with


    machinery and equipment needed to operate.

    Interdependence: businesses that are interdependent ned each other ot cary out
    their own responsibilities in order for businesses to operate effectively.

    (Ususally within the same sector)

    A motorcar manufacturer [secondary] depends on a battery manufacturer [secondary]


    to provide them with batteries.

    *Interrelated: businesses that are interrelated are connected with one other.

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