Unit One - Business in Society

  • Created by: he.atherf
  • Created on: 13-12-17 20:00
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  • Business in Society
    • Sectors of Industry
      • Primary
        • Extract raw materials from the ground
        • Agriculture, fishing, oil, gas extraction, brewing
      • Secondary
        • Manufacture goods from raw materials into a tangible product
        • Ship-building, breweries, builders, bakers
      • Tertiary
        • Provide a service through people trained to offer it
        • Fitness instructors, hotels, hairdressers
      • Quaternary
        • Provide knowledge-based service concerned with research and development
        • ICT, computing, education, scientific research, financial services
    • Wealth Creation
      • Benefits
        • Creates jobs which reduces the un-employment rate
        • Employed people have access to training and can learn new skills
        • Higher demand for goods and services as more people have disposible income
      • Costs
        • Can have a large impact on the environment
        • Too much demand for goods and services can cause inflation

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