1.2 Eco Sec

Primary Sector

The industry extracts and uses natural resources of the Earth to produce raw materials

Secondary Sector

This industry uses raw materials from the Primary Sector to manufacture goods

Tertiary Sector

This industry provides services to consumers or other economic sectors

Command (Planned) Economy

An economy in which all businesses are controlled by the government who decide what their people need and who to produce

Mixed Economy

A type of economy that has both Private and Public sector

Free-market Economy

An economy in which production are services are decided by the market and provide by private businesses

Public Sector

Organisations in the economy owned and controlled by the government

Private Sector

Part of the economy owned and operated by individuals and companies, usually for profit