823759
| Question | Answer |
| Primary Sector | Raw materials for other business to use |
| Secondary Sector | Manufacturers or makes the products with the raw materials |
| Tertiary Sector | Provides a service to the customers |
| Interdependence | All business depend on other sectors |
| Is the primary sector less or more important ? | Less because raw materials used up machines that have replaced jobs Foreign competitors can produce cheaper raw materials |
| Is the Secondary sector less or more important ? | Less Because foreign competitors means many goods are made over seas Machinery have replaced jobs |
| Is the Tertiary sector less or more important ? | More Because it increases the wealth so more money is spent on entertainment , shops and travel Increases leisure time |
| Mission Statements Profit | Maximisation of profit - main aim of most business in the private sector |
| Mission Statements Growth | Usually the best way to raise a profit and the aim of most business in the private sector Sales Growth Increased market share Eliminate competition |
| Mission Statements Survival | Very Important for a new business or an establishment business facing problems |
| Mission Statements Providing a service | All business will want to provide a service but it is the most important aim for the public sector |
| Private Sector | Business owned by private individuals E.G Tesco |
| Public Sector | Organisations controlled by central and local government E.G NHS |
| Voluntary ( not for profit ) sector | Charities and social clubs E.G Oxfam and Scouts and Brownies |
| Stakeholders | Individuals or groups with an interest in business |
| Unincorporated | Sole proprietors and partnerships are easier to set up but have no separate legal identity |
| Incorporated | Incorporated is a legal process which LTD and PLC business must go through |
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