All categories

3 years ago

What does the term primary, secondary and tertiary mean in business?

Business

2 answers:

seropon [69]3 years ago

7 0

Tertiary means commercial services.

Primary business purpose is a phrase denoting that the main intent of traveling out of town was to transact business.

A secondary industry makes products that are more likely to be consumed by individuals.

Hope this helps, have a good day. c;

Allisa [31]3 years ago

6 0

Answer:

The primary, secondary and tertiary sectors speak to different business types and the merchandise they produce and sell. It's least demanding to consider them a chain of creation, from separating the crude materials (primary) through assembling (secondary) and at last to overhauling the end shoppers (tertiary). Every part depends on the others to work appropriately and effectively inside the economy. Under the three-segment monetary hypothesis, each activity, in each industry, falls into at least one of these part types.

Explanation:

Primary Sector Extracts Raw Materials

The primary segment of the economy can be named the "extractive" business. These incorporate the businesses that produce or concentrate crude materials. Ranchers are a case of primary division laborers, as nourishment things are gathered as crude materials, for example, wheat and milk, and are taken from the homestead and made into different items, for example, bread and cheddar. Different businesses incorporate mining, for example, coal, iron mineral or oil, which separate the crude materials starting from the earliest stage will be changed over into other valuable things. In conventional economies, the primary division as a rule speaks to the biggest part of business.

Secondary Sector Manufactures and Assembles Goods

The secondary area of the economy is contained the assembling enterprises which take crude materials and produce items. For instance, the steel used to make vehicles. Woodworkers take wood and make homes, furniture and cabinetry. Not all assembling organizations make a total item. Semi-fabricating organizations produce parts to be utilized in different items that have a few phases of creation, for example, cars. The secondary area is generally most grounded in alleged "transitional" economies that are changing from conventional to advertise economies.

Tertiary Sector Refers to Commercial Services

The tertiary sector of the economy is the administration business. Administration organizations don't give a physical decent like the primary or secondary sectors, however they despite everything offer some incentive. For instance, banks, protection and the police all are instances of the administration business. Enterprises remembered for the primary or secondary sectors will regularly have workers who offer tertiary types of assistance, for example, promoting, bookkeepers and warehousing representatives. The tertiary sector is typically most grounded in cutting edge showcase economies.

You might be interested in

The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: Inventory that had cost $15,000 w

Westkost [7]

Answer :

1. A. Operating activities.

2. The sale price of the land should be shown in the investing activities

$25,813.20

Explanation :

As per the data given in the question,

The interest expense is reported in the operating activities section of the cash flow statement

Net sales = Gross sales - Sale returns - Sales discounts

=$27,000 - $660 - $526.80

= $25,813.20

The sales discount is come from

= ($27,000 - $660) × 2%

= $526.80

The preparation of the multi step income statement is presented below:

Ozark Merchandisers

Income Statement

Net sales revenue $25,813.20

Less: Cost of goods sold ($15,000 - $400) $14,600

Gross profit $11,213.20

Less: expenses

Selling and administrative expense $2,835

Income from operations $8,378.2

Add: Gain on sale of land $900 ($6,900 - $6,000)

Less: Interest expense $200

Net income $9,078.20

The sale price of the land i.e $6,900 should be shown in the investing activities as it reflects the cash inflow position

This is the answer and the given options are incorrect

3 0

3 years ago

thew recently purchased a new laptop for $1,500. He subsequently saw an advertisement for what appeared to be a similar model be

vovangra [49]

Answer:

The answer is post-purchase dissonance

Explanation:

Post-purchase dissonance is a situation in which a customer's perception is disturbed after buying a product or service. This results in the customer either regretting buying the product or considering returning the product.

One of the major reasons behind Post Purchase Dissonance is the external pressure on the customer while purchasing the product or service

8 0

3 years ago

Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should tak

Natalka [10]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Standard= 1 direct labor hour per unit

The total budgeted overhead at normal capacity is $1,080,000 comprised of $420,000 of variable costs and $660,000 of fixed costs.

During the current year, Byrd produced 74,000 putters, worked 98,300 direct labor hours, and incurred variable overhead costs of $133,200 and fixed overhead costs of $612,000.

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (420,000 + 660,000)/120,000

Estimated manufacturing overhead rate= $9 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 9*98,300= $884,700

Finally, the total overhead variance:

Overhead variance= real overhead - allocated overhead

Overhead variance= 745,200 - 884,700

Overhead variance= 139,500 favorable

5 0

3 years ago

What is one thing you can do to help remember a new business contact? Write_______________

STatiana [176]

I would say the answer is D. I’m not 100% sure but that seems to make the most sense.

4 0

3 years ago

Assume that eggs and cereals are substitute products for breakfast. If a disease kills a large number of chickens, what will hap

larisa [96]

Answer:

The correct answer is letter "D": the quantity demanded of cereal will increase.

Explanation:

According to the demand theory, as long as the quantity demanded increases, the price would decrease (the demand curve shifts to the right). The quantity demanded decreases when the price would increase (the demand curve shifts to the left).

In the example, as eggs and cereals are substitute products, if a disease kills a large number of chickens there will be fewer eggs supply in the market. Consumers will start looking for substitutes. Then, the quantity demanded for cereal will increase moving the demand curve to the right.

6 0

3 years ago