Classification of Businesses- Key Words and Definitions 5.0 / 5 based on 1 rating ? Business StudiesClassification of BusinessesIGCSEOther Created by: bobochenCreated on: 10-09-17 14:08 Primary Sector Businesses that extract and use natural resources to produce raw materials. 1 of 8 Secondary Sector Businesses that manufacture goods using raw materials from the primary sector. 2 of 8 Tertiary Sector Businesses that provide services to customers or firms. 3 of 8 Deindustrialisation The decline in importance of the secondary manufacturing industry. 4 of 8 Private Sector Businesses owned by people, not the government or state. 5 of 8 Public Sector Businesses owned by the government or state. 6 of 8 Mixed economy The economy is comprised of both private sector and public sector businesses. 7 of 8 Privatisation The sale of public sector businesses to private sector businesses. 8 of 8
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