BUSINESS STRUCTURE

Firms engaged in farming, fishing, oil extraction and all other industries that extract natural resources so that they can be used and processed by other firms.

• Primary sector business activity

• Secondary sector business activity

• Tertiary sector business activity

Firms that manufacture and process products from natural resources, including computers, brewing, baking, clothes-making and construction.

• Primary sector business activity

• Secondary sector business activity

• Tertiary sector business activity

Firms that provide services to consumers and other businesses, such as retailing, transport, insurance, banking, hotels, tourism and telecommunications.

• Secondary sector business activity

• Primary sector business activity

• Tertiary sector business activity

Economic resources are owned, planned and controlled by the state.

• Command economy

• Mixed economy

• Free-market economy

Economic resources are owned and controlled by both private and public sectors.

• Command economy

• Mixed economy

• Free-market economy

Economic resources are owned largely by the private sector with very little state intervention.

• Command economy

• Mixed economy

• Free-market economy

A business formed by two or more people to carry on a business together, with shared capital investment and, usually, shared responsibilities.

• Sole trader

• Partnership

A business in which one person provides the permanent finance and, in return, has full control of the business and is able to keep all of the profits.

• Sole trader

• Partnership

It comprises organisations accountable to and controlled by central or local government (the state).

• Private sector

• Public sector

It comprises businesses owned and controlled by individuals or groups of individuals.

• Public sector

• Private sector