Set: Business Studies: Types of Business Activities
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All 14 Terms
| | Term | Definition |
|---|---|---|
| |
Primary Industries | Industries that extract and exploit the natural resources of the earth. |
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Secondary Industries | Industries that manufacture goods made from the raw materias provided by the primary sector |
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Tertiary Industries | Industries that provide services to consumers and other sectors of industry |
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De-industrialization | Relative decline in the importance of a country's secondary sector |
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Public Sector | The sector of the economy in which organizations are owned and controlled by the state |
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Private Sector | The sector of the economy in which organizations are owned and controlled by individuals |
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Free Market Economy | All resources are privately owned. Prices are determined by supply and demand |
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Planned Economy | All resources are owned by the government which also takes all major economic decisions |
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Mixed Economy | has both a private and a public sector. |
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Privitization | The sale of state-owned assets such as public corporations to the private sector |
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Capital-intensive business | Use a high proportion of capital equipment to produce their output |
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Labour-intensive business | Use a high proportion of labour to produce their output. |
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Internal Growth | Business growth achieve by expanding the existing business. e.g. Car factory extending to raise capacity. |
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External Growth | Business growth achieved by merging with or taking over other businesses. |
Set Information
| Terms | 14 |
| Creator | Spookane112 |
| Created | April 13, 2008 |
| Groups | None |
| Tags | business, studies, igcse, highschool |
| Access | Anyone |
| Edit | Creator Only |
Description
Flashcards to make it easier to study Business Studies.
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Spookane112 : Changed Public Sector → The sector of the economy in which organizations are owned and controlled by the state to The sector of the economy in which organizations are owned and controlled by the state → Public Sector
Last Message: 4 months ago