IGCSE 1.2 Classification of Business | Baamboozle - Baamboozle

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Identify an example of a country that has depleted its primary resources.

Somalia depleted its forests by cutting them all down

A lumberjack works in which sector of the economy?

Primary sector

Oil refining belongs to which sector of the economy?

Secondary sector

Define deindustralization. Why does it occur?

Decline in importance of secondary sector: lost jobs as developing countries more competitive in manufacturing with lower wages

Provide an example of a chain of production (other than the one looked at in class)

Apple juice: Primary (extracting apples) --> Secondary (plants that turn apples to juice) --> Tertiary (supermarkets selling apple juice)

Restaurants belong to which sector of the economy?

Tertiary sector

Bangladesh is a fast-growing, developing country. What do we expect to happen to employment in the three sectors over time?

Tertiary sector becomes increasingly important as service industry grows bigger.

Meta belongs to which sector of the economy?

Tertiary sector

Explain THREE factors that determine whether a sector is important in a particular country.

Education levels of workforce, Level of development, abundance of natural resources

Explain THREE reasons why the tertiary sector becomes more important as a country develops.

Secondary less competitive due to higher wages, primary resources depleted, people spend more on services

Define what is meant by the secondary sector.

The sector that turns raw materials from the primary sector to manufactured goods.

Explain the relationship between specialization and the different economic sectors.

People / businesses specialize in what they're good at, leading to businesses focusing on different stages of production (i.e. the sectors)