SECTORS OF ECONOMY
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19 Terms
primary sector
extracting natural resources
secondary sector
manufacturing and construction
tertiary sector
providing services
queternary sector
about knowledge, information, technology
quinary sector
about decision-making and leadership
chain of production
stages involved in creating goods
disclosure
release of information
extraction
removing resourses from somewhere
raw
not proccesed, cooked
provision
act of supplying
occur
to happen, take place
economy
he system of money, production, and trade in a country
economies
plural (many countries’ economies)
economies of scale
lower costs when producing more goods
economics
the study of how money and business work
economist
a person who studies economics
economic
related to the economy (e.g. economic growth, economic crisis)
economical
saving money, not wasting resources
(e.g. an economical car)
to economize
to spend less money
