Classification of Business

Firms whose business activity involves the extraction of natural resources.

• Primary

• Secondary

• Tertiary

Firms that supply a service to consumers and other businesses.

• Primary

• Secondary

• Tertiary

Firms that process and manufacture goods from natural resources

• Primary

• Secondary

• Tertiary

Which business activity below is an example of Tertiary sector?

• Refining

• Construction

• Cinema

• Mining

Which business activity below is an example of the Secondary sector?

• Refining

• Fishing

• Banks

• Mining

Which business activity below is an example of the Prmary sector?

• Refining

• Airlines

• Banks

• Mining

What are the 3 sectors of business classification?

• Primary

• Premium

• Secondary

• Tertiary

These are products that are sold to the final consumer. They can be seen and touched, for example, computers and food.

• Consumer Services

• Consumer Products

• Capital Goods

• Labour

These are non-tangible products such as insurance services, transport, salon

• Consumer Services

• Consumer Products

• Capital Goods

• Labour

What are the advantages of division of labour?

• Increasing productivity

• Fall off motivation

• Saving Time

• Giving each employee tasks that best suit her skills.