Classification of Business Activities

Business Fundamentals

Business activities and sectors

1. How many business sectors do you know?

2. What is you relative`s business sectors?

Classification of Business Activities

Other than the production of goods and services, there are numerous other activities which can be termed as business activities.

It can be broadly classified as follows:

Добавить четверную и пятую!!!!

Business Industry

A nation’s economy can be divided into sectors to define the proportion of a population engaged in different activities. This categorization represents a continuum of distance from the natural environment. The continuum starts with primary economic activity, which concerns itself with the utilization of raw materials from the earth, such as agriculture and mining. From there, the distance from natural resources increases as sectors become more detached from the processing of raw materials.

Primary Sector

The primary sector of the economy extracts or harvests products from the earth such as raw materials and basic foods. Activities associated with primary economic activity include agriculture (both subsistence and commercial), mining, forestry, grazing, hunting and gathering, fishing, and quarrying. The packaging and processing of raw materials are also considered to be part of this sector.

In developed and developing countries, a decreasing proportion of workers is involved in the primary sector. Only about 1.8% of the U.S. labor force was engaged in primary sector activity as of 2018.1 This is a dramatic decrease from 1880 when roughly half of the population worked in the agriculture and mining industries.

Based on the process through which the natural resources are acquired, the primary industries are divided into the following two types:

Extractive: Industries which extract the resources already available with nature.

For example; The petroleum industry, iron ore mines, the fishery industry, etc.

Generic: Industries involved in the rearing of cattle, animals and birds or growing of plants, flowers and vegetation to sell them or their products.

⇐ Предыдущая 1 234 5 6 Следующая ⇒