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Business Sectors

gues the correct term for revision purposes

TermDefinition
Primary sector Extraction of natural/raw materials
CIPC Businesses register with the Companies and Intellectual Properties Commission
Formal sector Consists of registered businesses
Second economy The Informal is also known as the second economy
Tertiary sector Distribution and sales of goods to consumers and rendering of services
Public sector Organizations and business enterprises that are owned by government
Informal sector Consists of businesses that are not registered
Primary economy The formal sector is also known as the primary economy
Private sector Business enterprises owned by private persons
Secondary sector Converts raw materials from primary sector into final products
Personal tax Pay tax in your own personal tax
Secondary tax Tax charged on dividends distributed to shareholders
Company tax Companies pay taxable income for the company
Classification of industries in the tertiary sector Trade and Service
Classification of industries in the secondary sector Clothing, motor and furniture manufacturing industries
Classification of industries in the primary sector Agricultural, mining, forestry, fishing activities
Created by: bulelwa137
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