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GuDViN [60]
3 years ago
14

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.

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Seamus dropped out of school as a 16-year-old and needs to support himself, though he has few skills. He is a part-time employee
RoseWind [281]

Answer:

Psychological needs

Explanation:

From the question, we are informed about the Seamus who dropped out of school as a 16-year-old and needs to support himself, though he has few skills. He is a part-time employee at a department store earning minimum wage. Seamus wants to earn more, but hasn't been able to find a better job since he is without the right qualifications. He is having a hard time paying his rent and his mounting bills. He even started to skip breakfast to save on food costs. Seamus is having trouble meeting his Psychological needs. Psychological needs can be regarded as autonomy as well as competence and relatedness which has been regarded as one that play an important role when it comes to well-being as well as motivation and life satisfaction , even vitality of people as regards their general and daily level activities. These needs could be getting needed pleasure as well as avoiding pain.

3 0
3 years ago
Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for th
FrozenT [24]

Answer:

Date                    Explanation             Debit       Credit

January 1            Petty Cash               $200

                           Cash                                          $200

Explanation:

Step 1: Journal Entries to Establish the Fund on January 1

Date                    Explanation             Debit       Credit

January 1            Petty Cash               $200

                           Cash                                          $200

Being the establishment of petty cash fund

Step 2: Preparing Journal Entries to reimburse funds on January 8

Date                    Explanation             Debit       Credit

January 8            Postage                   $74

                            Transportation        $29

                            Delivery                   $16

                            Miscellaneous         $43

                           Cash                                          $162

Being the reimbursement of Petty Cash Fund.

Petty Cash is usually a fund established by an organisation to take care of day to day expenses. At the end of a period or at the exhaustion of the fund, an account is given and then the amount spent is reimbursed.

7 0
3 years ago
Fashion, Inc. had a Retained Earnings balance of $16,000 at December 31, 2021. The company had an average income of $6,500 over
avanturin [10]

Answer:

Total amount of dividends paid over the last three years is $20500

Explanation:

The net income of the company is either retained in the company or paid out as dividends. To calculate the value of the ending retained earnings, we use the following formula,

Ending balance = Beginning balance + Net Income - Dividends

We first need to calculate the total net income for the 3 year period. The total net income for the 3 year period is, 3 * 6500 = $19500

Plugging in the available values for the ending and beginning balance of retained earnings and net income, we can calculate the value of total dividends paid for the three year period.

15000 = 16000 + 19500 - Dividends

Dividends = 35500 - 15000

Dividends = $20500

4 0
3 years ago
Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant,
Naddika [18.5K]

Answer:

$380

Explanation:

Ziva's total cost of farming is composed of two different costs: explicit and implicit costs.

Explicit cost is an out-of-pocket cost that a person incurs to carry out a particular business activity. It is sort of, a business-related expense for which the business pays. In Ziva's case, it is $130, the cost of the seeds

Implicit costs are opportunity costs. An opportunity cost refers the benefits an individual, investor or business misses out on when opting for one alternative in preference of another. In our case, it amounts to $250($25*10 hours)

Thus, Ziva's cost of farming

= $130 +( $25*10) = $130 +$250 = $380

5 0
3 years ago
Which is NOT an example of an expense a) advertising b)insurance c)dividends d)depreciation
docker41 [41]

Answer:

c. dividends

Explanation:

not payable... so

7 0
3 years ago
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