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133998833655CHAPTER 5BUSINESS SECTORS020000CHAPTER 5BUSINESS SECTORSPRIMARY, SECONDARY AND TERTIARY SECTORPRIMARY SECTORThe primary sector deals with ____________________ and _______________________.Goods are sold in their raw state and the processing and packaging does not change the product in any way. These industries extract natural resources to sell to _________________. This sector is often the main industry in _____________________ and developing countries.Examples of the primary sector include _________________________________________________.SECONDARY SECTORThe secondary sector ____________________ and _______________________ raw materials into __________________ goods. All the manufacturing, processing, construction and engineering industries fit into the secondary sector. The final goods are sold to the consumers. 351765230049300Examples of the secondary sector include ________________________________________________ ____________________________.TERTIARY SECTORThe tertiary sector is also known as the _______________________ industry It includes all industries that offer services to other businesses and consumers. The services may include distribution, transportation, banking, insurance, retail, entertainment and tourism. Examples of the tertiary sector include ___________________________________________________ ____________________________.-23114066675008145408003700Example:In the primary sector, the coffee beans are grown and picked. In the secondary sector, they are ground into coffee powder and packaged as a separate product. Coffee beans are sold at coffee kiosks and supermarkets in shopping malls.FORMAL AND INFORMAL SECTORINFORMAL SECTORIncludes those industries that are not __________________________ and no not pay _______.No monitored by the _____________________.Do not add to the GDP (__________________________________________)Some characteristics of the sector include:___________________________________________________________________________________________________________________________________________________________________________________________________________________________________EXAMPLES_______________________________________________________________________________FORMAL SECTORRegistered businesses and do pay __________.Controlled by _________ and _________________________ of the government.EXAMPLES_______________________________________________________________________________PUBLIC AND PRIVATE SECTORSPUBLIC SECTORIndustries that are controlled by the __________________ and offer ______________________ to the community.The government acts as an ________________ and combines the _____________________________ to develop goods and services that will benefit the community.These are often essential services such as _______________________________, ______________________, _________________________ and ___________________________.EXAMPLES_______________________________________________________________________________PRIVATE SECTORMain aim is to make a ________________.Owner takes full responsibility to raise ________________ and to fund operations of the business.Some public businesses have become private as the government no longer wants them._________________________ ................
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