business lesson 2 economic sectors

What are the 3 economic sectors

Primary secondary tertiary sector

Definition of primary sector

Business that extracts or harvest natural resources

Definition of secondary sector

Business that manufacture or construct products using raw materials from the primary sector until almost finished or finished

Definition of tertiary sector

Businesses that provide services to consumers and other business

What is a private sector

Business’s owned by one individual aiming mainly to gain profit

What is a public sector

Businesses owned by the government funded mainly through taxes and aims is to do good services for other people