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Sectors
Factors of Production
Terms
100
This category would include manufacturing
What is the secondary sector?
100
includes machinery and equipment
What is Capital?
100
The difference between the selling price and the cost of raw materials used to make a product
What is added value?
200
Includes Financial services and Health services
What is The Tertiary Sector?
200
Includes Natural resources
What is Land
200
The sector of businesses owned by the state or govt
What is public sector?
300
Includes the mining of natural resources
What is The Primary sector?
300
The ability, skill, and enthusiasm to take risks and gather appropriate resources.
What is Entrepeneurship?
300
The four categories of resources that are used to produce goods and services
What are the Factors of Production?
400
The stages a product goes through from raw materials to finally being sold to the customer
What is The chain of production?
400
Farm Tractors would be in which category
What is Capital?
400
demand for a product that is backed up by the ability and willingness to pay for it.
What is Effective Demand
500
This sector is becoming more and more prominent, as service based industries become more in demand.
What is the tertiary sector?
500
This is primarily provided by people
What is labor?
500
this sector consists of businesses owned by individuals or groups
What is Private Sector