Ch2. Classification of Businesses

1. DE-INDUSTRIALISATION

1.1. Occurs when there is a decline in the importance of the secondary (manufacturing sector of industry) in a country.

2. MIXED ECONOMY

2.1. PUBLIC SECTOR

2.1.1. 1) Owned by the government. 2) controled by the government 3) Dont need profit

2.2. PRIVARE SECTOR

2.2.1. 1) Business not owned by the government. 2)make own decisions, such as prices, etc. 3) need a profit.    4) some government controls

2.3. has both a private sector and a public (state) sector.

3. PRIVATISATION

3.1. when the private sector buys to the public sector.

3.2. ADVANTAGES

3.3. DISADVANTAGES

4. CAPITAL

4.1. money invested in a business by the owners.

5. Stages of Economy

5.1. PRIMARY SECTOR

5.1.1. Extracts and uses the natural resources of the earth..

5.2. SECONDARY SECTOR

5.2.1. manufactures goods using the raw materials provided by the 1ry sector.

5.3. TERTIARY SECTOR

5.3.1. B2C =provides services  to consumers & other sectors of industry

6. How are stages of Economy Compared

6.1. % of a country's total  number of  workers employed  on each sector.

6.2. Value of output of goods and services and proportion of total nation output.