The primary sector is the one that uses the raw material extracted or grown. This first stage of production

Examples of primary sector are farming and mining

The secondary sector uses the raw materials extracted and grown to make/ transform products which are then sold to consumers and other businesses.

Tertiary sector provides services such as transport, education and retail i.e. in tertiary sector products are sold to consumers and other businesses

Quaternary sector provides information services to customers such as IT consultancy, data analytics, R&D and media. The people working in quaternary sector are highly skilled

Scope of business refers to number of employees it has and will be micro, small, medium or large

The business operations defined by area such as local, national, international are categorized as being defined by

Local refers to businesses operating and serving customers with in 20 mile radius

A business has customers in all regions of the UK. What is the scope of this business?

Difference between business management and entrepreneurship is an entrepreneur's capacity and willingness to take risk and innovate to establish, run and manage a business

A business set up to provide founder with enough income to enjoy the quality of the life they desire and provide flexibility are called

Businesses that trade to intentionally tackle social problems, improve communities, provide people access to employment and training, or help the environment are called

A business that is set up when the owner allows other people to use the name and branding of an established business are called ....................... and are effectively the agent of established business

A franchisor pays a fee to a franchisee and acts as its agent to use name and branding of an established business.

Luisa left university and wanted a career as travel writer. She soon realized this job was virtually impossible but her heart was set on travelling, managing her own future and earning enough money to sustain this way of life. She now combines writing, teaching and managing a band and this allows her the flexibility to travel and work. Choose the answer(s) from below