Classification of businesses

Need to know

What you need to know

• Involves extraction of raw materials (e.g., farming, mining, fishing).
• Often the dominant sector in developing countries in terms of employment.
• Output serves as the input for the secondary sector.
• Highly susceptible to environmental factors and global commodity price fluctuations.

Explanation

Classification of businesses

1. Involves extraction of raw materials (e.g., farming, mining, fishing).
2. Often the dominant sector in developing countries in terms of employment.
3. Output serves as the input for the secondary sector.
4. Highly susceptible to environmental factors and global commodity price fluctuations.