Business Keywords + Definitions 4

Secondary Sector

Businesses that manufacture or process raw materials into finished or semi-finished goods.

Primary Sector

Businesses that extract or harvest natural resources from the land, sea or air.

Tertiary Sector

Business that provide services to consumers or other businesses rather than goods.

Infrastructure

Basic systems and structures that a country/organizations needs to work properly.

Productivity

The rate at which goods are produced, and the amount produced, especially in relation the work, time and money needed to produce them.

Consumer Cooperative

Cooperative that is owned by its customers.

Privatization

Transfer of public sector resources to the private sector.

Franchisee

An individual or a business that buys that rights to operate under an established brand and follow the franchisor’s business model.

Initial Public Offering (IPO)

The first sale of a company’s shares to the public on a stock exchange to raise capital.