Classification of Businesses- Key Words and Definitions

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  • Created by: bobochen
  • Created on: 10-09-17 14:08
Primary Sector
Businesses that extract and use natural resources to produce raw materials.
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Secondary Sector
Businesses that manufacture goods using raw materials from the primary sector.
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Tertiary Sector
Businesses that provide services to customers or firms.
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Deindustrialisation
The decline in importance of the secondary manufacturing industry.
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Private Sector
Businesses owned by people, not the government or state.
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Public Sector
Businesses owned by the government or state.
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Mixed economy
The economy is comprised of both private sector and public sector businesses.
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Privatisation
The sale of public sector businesses to private sector businesses.
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Other cards in this set

Card 2

Front

Businesses that manufacture goods using raw materials from the primary sector.

Back

Secondary Sector

Card 3

Front

Businesses that provide services to customers or firms.

Back

Preview of the back of card 3

Card 4

Front

The decline in importance of the secondary manufacturing industry.

Back

Preview of the back of card 4

Card 5

Front

Businesses owned by people, not the government or state.

Back

Preview of the back of card 5
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