BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An oil exploration company
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A family run farm business
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A taxi operating business
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A shoe manufacturer
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Detailed explanation-1: -Secondary sector: Secondary activities add value to natural resources by transforming raw materials into valuable products. Therefore, are concerned with manufacturing, processing and construction industries. For eg: Shoe factory. Tertiary sector: Tertiary activities include both production and exchange.
Detailed explanation-2: -A secondary business is a part of a corporation that is not part of its core functions but supplements it instead. A secondary business can contribute to the overall health of the corporation and can hold assets just as any other business unit.
Detailed explanation-3: -A business sector is the subset of a given economy that is made up of individuals and/or companies (in different legal forms) that are active with the same or related economic activities (same type of production or services) and pursuing roughly similar business models.
Detailed explanation-4: -The primary sector is composed of industries engaged in the business of gathering raw materials. It includes mining companies, lumber companies, and oil drilling companies – along with the agricultural and fishing industries.