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Chain of production
Junior cert business studies
Term | Definition |
---|---|
Chain of production | Refers to the various production or processing stages that a good or service goes through before it is sold to the consumer. |
Primary production (extractive industry) | Refers to industries that take (extract) materials from the land or the sea. |
Secondary production | Is the manufacturing and construction sector of the economy. |
Tertiary sector (services industry) | Is made up of firms that provide services to other sectors of the economy. |
Channels of distribution | Are the methods used to transfer finished goods from manufacturers to consumers. |