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ECONOMIC SECTOR…read more

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Economic sector
Secondary Sector:
Primary Sector: - Turning raw Tertiary Sector:
- includes growing, materials into finished
fishing, farming, goods - The service sector
extracting or mining raw - Dominated by
materials - Includes
manufacturing, wholesaling,
- e.g. wheat, cocoa, gold,
copper engineering and retailing, financial
- crucial in less developed
construction services and
countries - Where value is added tourism…read more

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Differences between the 3
sectors
Primary Secondary Tertiary
Rely on big buyers like No direct contact with Direct contact with
supermarkets customers customers
Difficult to differentiate the Products can be Service can be made to
product differentiated through stand out through
design marketing
Location is not very Factories need to be located Location may need to be
important, but some close to suppliers and staff close to customers, apart
customers do think about from call centres
`food miles'…read more

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SIZE AND SCALE
There is no best size for a business. A business can be run by one person on the street
or by many owners across the world…read more

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Size of a business
Profit ­ not very
accurate
Geographical
Turnover ­
area ­ could Measuring
value of sales in
include number size
a year
of outlets
Number of
employees ­
can be
misleading…read more

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