UNDERSTANDING BUSINESS

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What are the Sectors of Industry
Primary, Secondary, Tertiary, and Quartemary
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What is the Primary Sector?
The primary sector of industry is where resources are extracted from the ground. Eg, farm, mining, fishing
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What is the secondary sector?
The secondary sector is where the manufacturing, eg car manufacturers, food production, building companies
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What is the third sector?
The third sector is where businesses provide a service, eg, banks, hairdressers
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What is the Quartemary sector?
This is the sector that provides information, eg ict, consultancy
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What are the types of organizations?
public sector organizations and public limited companies
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What is a public sector organization?
Organizations run by the government exist to provide a service for the population and the communities. Eg, income tax. There are also two kinds, central government, and local government, central is the one that provides services and the local is made up o
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What is a public limited company [plc]?
A PLC is owned by shareholders who have limited liability, shares can be sold publicly through the sock market
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What are the objectives of a business?
Growth, satisficing, corporate social responsibility, and working within a budget
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Other cards in this set

Card 2

Front

What is the Primary Sector?

Back

The primary sector of industry is where resources are extracted from the ground. Eg, farm, mining, fishing

Card 3

Front

What is the secondary sector?

Back

Preview of the front of card 3

Card 4

Front

What is the third sector?

Back

Preview of the front of card 4

Card 5

Front

What is the Quartemary sector?

Back

Preview of the front of card 5
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