Business Revision

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Primary, secondary and tertiary sectors
There are three main types of industry in which firms operate. These sectors form a chain of production which provides customers with finished goods or services.
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Primary sector
this involves acquiring raw materials. For example, metals and coal have to be mined, oil drilled from the ground, rubber tapped from trees, foodstuffs farmed and fish trawled. This is sometimes known as extractive production.
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Secondary sector
this is the manufacturing and assembly process. It involves converting raw materials into components, for example, making plastics from oil. It also involves assembling the product, eg building houses, bridges and roads.
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Tertiary sector
this refers to the commercial services that support the production and distribution process, eg insurance, transport, advertising, warehousing and other services such as teaching and health care.
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interdependence
The chain of production shows interdependence: firms rely on other businesses in different sectors for raw materials, components or distribution.
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Other cards in this set

Card 2

Front

this involves acquiring raw materials. For example, metals and coal have to be mined, oil drilled from the ground, rubber tapped from trees, foodstuffs farmed and fish trawled. This is sometimes known as extractive production.

Back

Primary sector

Card 3

Front

this is the manufacturing and assembly process. It involves converting raw materials into components, for example, making plastics from oil. It also involves assembling the product, eg building houses, bridges and roads.

Back

Preview of the back of card 3

Card 4

Front

this refers to the commercial services that support the production and distribution process, eg insurance, transport, advertising, warehousing and other services such as teaching and health care.

Back

Preview of the back of card 4

Card 5

Front

The chain of production shows interdependence: firms rely on other businesses in different sectors for raw materials, components or distribution.

Back

Preview of the back of card 5

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