SECTORS IN THE ECONOMY
CORRECT 100%
Primary sector - ANSWERWhere workers extract materials from Earth through
agriculture, and sometimes by mining, fishing, and forestry; the portion of the
economy concerned with the direct extraction of materials from Earth's surface,
generally through agriculture, although sometimes by mining, fishing, and forestry
State-owned enterprises (SOEs - ANSWERorganizations wholly owned by the
government
Informal sector - ANSWERthe portion of an economy largely outside government
control in which employees work without contracts or benefits
formal sector - ANSWERJobs in the formal sector are known to the government
department that is responsible for taxation, and to other government offices. Such
jobs generally provide better pay and much greater security than jobs in the informal
sector.
Name the three types of labour - ANSWERSkilled labour, semi-skilled and unskilled
labour.
- ANSWER
secondary securities market - ANSWERThe creation of goods and services through
production and manufacturing
Tertiary Sector - ANSWERthe part of the economy that involves services rather than
goods. Sales of final goods
examples of primary sector activities - ANSWERfishing, farming, mining, agriculture.
examples of secondary sector activities - ANSWERFactories, Manufacturers of
vehicles etc
examples of tertiary activities - ANSWERteachers, doctors, lawyers, sales, business,
transport, insurance, banking, marketing etc
Public enterprise - ANSWERa business that is owned by the government rather than
by individuals or other companies