#BusinessSectors #IBBusinessmanagement #EduIgnites
Business Sectors Podcast Episode| Primary Sector| Secondary Sector| Tertiary Sector| Quaternary Sector|
Though there are different ways of classifying business activities, one popular method is the classification based on’ the stage of production they are engaged in.
Good Morning!
Welcome to Business Bites, podcast episode.
Today, I am talking about, Business Sectors.
Primary Sector. This sector refers to businesses involved in extraction, harvesting, and conversion of natural resources. Examples include, fishing, mining, harvesting, and oil extraction.
Secondary sector refers to businesses involved in construction of facilities and manufacturing products. Examples include manufacturing firms, construction firms, and energy production companies.
Tertiary sector refers to businesses involved in providing services to the general population and other business organisations. Examples include retailing, transportation, banking, healthcare, and insurance., And, finally.
Quaternary Sector. Quaternary Sector, refers to businesses involved in intellectual, knowledge-based activities that generate and share information. Examples include scientific research, research and development, and ICT.
Thank you, and Happy learning!!
Key words:
Business Sectors, Primary sector, Secondary sector, tertiary sector, Quaternary Sector, IB Business Management, A Level Business, IGCSE Business Studies, Fishing, mining, manufacturing, construction, insurance, banking, tourism, ICT, R&D,
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