sectors

Question 1

private

Answer 1

• owned and run by private individuals
• Aim to provide goods and services that meet consumer demand while also generating profit
• partnership
• sole trader

Question 2

Public

Answer 2

• Owned and managed by the government
• Borrow and use Tax income to provide pure public goods, merit goods, infrustructure
• NHS, CIVIL service

Question 3

voluntary/Not for profit

Answer 3

Organisation that does not generate profits for its owners. Any money made or donated is used in pursuing the organisation’s aims
* Charity-Aim to raise money to support a cause, focus on minimising costs and organising activities to maximise donations

Question 4

what are the 3 main organisations in the voluntary sector

Answer 4

1. voluntary/community groups-kittiwake trust.
   * Registered charities-RSPCA, british heart foundation
   * Non-government organisations-Red cross, Amnesty international

Question 5

what is an organisation

Answer 5

When a group of people come together for a common purpose

Question 6

Share by value

Answer 6

The percentage of total revenue made in a market by one firm

Question 7

Share by volume

Answer 7

The total number of untis sold in a period of time

Question 8

primary sector

Answer 8

All industries involved in extracting

Question 9

what is a sector

Answer 9

Group of similar industries

Question 10

what is an industry

Answer 10

group of businesses or organisations that produce similar output

Question 11

Secondary sector

Answer 11

All industries involved in transforming physical input into different output

Question 12

Tertiary sector

Answer 12

All Industries involved in providing services

Question 13

Quaternary sector

Answer 13

All industries involved in processing data

Question 14

Where does public sector organisations get their funding from

Answer 14

-Tax income
-borrowing