Unit # 1: Understanding Business activity

Tore
Chapter # 2

Classification of
Business

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* Topics to be covered :
2) Secondary sector : It is involved in the q Industrialization : it is a process where
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of natural obtained
processing resources a
country is moving towards secondary
it
1) Level of economic activity from the
primary sector and converting sector

2) De -
industrialization into finished goods . It also involves

r
Industrialization of include
3) manufacturing goods . Examples

4) Reason for changes between sector car manufacturers ,

building houses , bridges

s ) public and private sector and roads .

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:*

activity : ⑧
)
i From
Primary sector towards secondary
sector :

i
) primary Sector : This sector is involved * De - Industrialization : it is a process a) Depletion ( Exhaustion of resources
-
-

from
away from
extraction of competition abroad
in the natural resources .
where a
country is
moving b) low

Examples include : Metals and coals the

secondary sector .

mined oil drilled from the 2)

have to be ,
From
secondary sector towards
tertiary

er
ground ,
rubber tapped from trees sector :
,

foodstuff farmed ,
fish trawled .
a ) High competition from abroad

b) High standard of
living and increasing
income spent on restaurants and

travelling .
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towards primary
3) From
Tertiary sector

sector :

a) low standard of
living
b) Extraction of new resources .

*
PubtandPr :

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owned
b) Public-sector : If a business is

and decisions
and controlled by government
of resource allocation is taken by
government then
they would be classified

as public sector .
Public sector
usually
controls the
following business : health ,

education ,
defence , public transport ,

electricity and water supply .