Unit 2. Classification of Business

The different stages of economic activities

BizTerm

  1. Primary sector

  2. Secondary sector

  3. Tertiary sector

  4. Quaternary sector

  5. De-industrialization

  6. Mixed economy

  7. Private sector

  8. Public Sector

  9. Privatization

Essential Questions

  1. Outline the differences between the three sectors of economic/business activity

  2. Distinguish the importance importance of economic sectors between developing and developed countries

  3. Analyze some reasons for changes in sector importance over time

  4. Explain the differences between the private sector and public sector in mixed economies

  5. Evaluate the arguments for and against privatization

Lesson Resources

Read: IGCSE Textbook Unit 2 Pages 11-19

2 - Classification of Business