Higher Business - Roles of Business in Society

What are the Sectors of Industry

• Primary Sector

• Secondary Sector

• Teritiary Sector

• Quaternary Sector

What is the Primary Sector

• businesses that are involved in exploiting natural resources

• farming, mining and oil drilling

What is the secondary sector

Businesses involved in manufacturing and construction

• take natural resources and turn into goods to be sold later

• electronic manufacturer, car production and house building

What is the Teritiary sector

Businesses and organisations that provide services not goods

• retail outlets, banks, hospitals and hotels

What is the Quaternary Sector?

Provide information and Knowledge based services

• ICT (Information and communication tech)

• Consultancy - offering advice to business

• R+D - Research and Development

What are the Sectors of Economy?

Third Sector

Private Sector

Public Sector

What are factors of the Private Sector?

• Aim to primary maximise profits

• includes all profit making business

• includes local business to multinational

What are factors of the Public Sector?

• Government owned businesses

• aim to provide service to society

• NHS, Police, state education