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Role of foreign sector in economic cycle?
The Role of the Foreign Sector in the Economic Cycle The foreign sector is when a country cannot satisfy their needs effectively between the closed economy: households, businesses and the government. Countries then convert to an open economy to satisfy their needs effectively. To solve the problem that the country is having they have to trade with other countries to gain a strong economy so that they will be able to satisfy the needs of their people. When countries trade they do not have to rely solely on their own resources because they can sell it and gain other resources form the different countries. Some countries may not have good access to resources so they will not be able to use the foreign sector effectively.
What is a primary industrial sector?
The primary sector of the economy can be defined as the sector of an economy making direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas. This is contrasted with the secondary sector, producing manufactured and other processed goods, and the tertiary sector , producing services. The primary sector is usually most important in less developed countries, and typically less important in industrial countries
What is the role played by the primary sector in the economy of your country?
The Primary sector of the economy is the change of natural resources into primary products, it is the first step followed by the secondary and tertiary sectors. Most products from this sector provides raw materials for other industries.
Why is the private sector more efficient than the public sector in terms of poverty reduction?
While it may seem that the private sector is more efficient, the answer is actually ambiguous. Many studies in the 70s and 80s pointed to this efficiency in the private sector, but new studies (with the addition of new data from across the world) are showing there is actually little difference between the public sector and the private sector's abilities in reducing poverty.
Why is charitie in the tertiary sector?
Charities are classified in the tertiary sector because they provide services rather than goods, focusing on social welfare, community support, and various forms of assistance. This sector encompasses non-profit organizations that aim to address societal issues, such as poverty, education, and health. Unlike the primary sector (which involves natural resources) and the secondary sector (which deals with manufacturing), the tertiary sector emphasizes service delivery and interpersonal interaction, making charities essential for promoting social well-being.
Role of foreign sector in economic cycle?
The Role of the Foreign Sector in the Economic Cycle The foreign sector is when a country cannot satisfy their needs effectively between the closed economy: households, businesses and the government. Countries then convert to an open economy to satisfy their needs effectively. To solve the problem that the country is having they have to trade with other countries to gain a strong economy so that they will be able to satisfy the needs of their people. When countries trade they do not have to rely solely on their own resources because they can sell it and gain other resources form the different countries. Some countries may not have good access to resources so they will not be able to use the foreign sector effectively.
Describe the six forces of task environment?
industry sector , raw materials sector , human resources sector , financial resources sector , market sector , technology sector , economic conditions sector , government sector ,
What is a primary industrial sector?
The primary sector of the economy can be defined as the sector of an economy making direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas. This is contrasted with the secondary sector, producing manufactured and other processed goods, and the tertiary sector , producing services. The primary sector is usually most important in less developed countries, and typically less important in industrial countries
Why is primary sector important to a country's economy?
The sector of an economy making direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas. This is contrasted with the secondary sector, producing manufactures and other processed goods, and the tertiary sector, producing services. The primary sector is usually most important in less developed countries, and typically less important in industrial countries.
What is the role played by the primary sector in the economy of your country?
The Primary sector of the economy is the change of natural resources into primary products, it is the first step followed by the secondary and tertiary sectors. Most products from this sector provides raw materials for other industries.
Why is the private sector more efficient than the public sector in terms of poverty reduction?
While it may seem that the private sector is more efficient, the answer is actually ambiguous. Many studies in the 70s and 80s pointed to this efficiency in the private sector, but new studies (with the addition of new data from across the world) are showing there is actually little difference between the public sector and the private sector's abilities in reducing poverty.
Why is charitie in the tertiary sector?
Charities are classified in the tertiary sector because they provide services rather than goods, focusing on social welfare, community support, and various forms of assistance. This sector encompasses non-profit organizations that aim to address societal issues, such as poverty, education, and health. Unlike the primary sector (which involves natural resources) and the secondary sector (which deals with manufacturing), the tertiary sector emphasizes service delivery and interpersonal interaction, making charities essential for promoting social well-being.
How can the private sector respond to reduce poverty and create employment?
The private sector can aid the economy by generating profits. This will allow for them to invest in more research and in creating new businesses. Also, the taxes on their profits can be used to create anti-poverty programs.
What are the advantages and disadvantages of allocating resources through the public sector?
The advantage of allocating resources in the public sector is that resources can be produced based on demographic needs. The disadvantage of allocating resources is that there is room for corruption if the wrong individuals are chosen.
When establishing sectors what best determines the size of each sector?
terrain and resources within the sector
What are the various activities undertaken in the primary sector secondary sector and tertiary sector?
The primary sector relates to the extraction and production of natural resources - like farming and mining. The secondary sector relates to the processing of the resources, which includes manufacturing. The tertiary sector relates to the support of the primary and secondary sectors. This includes transportation, banking, insurance, etc.
Does baker come under primary sector?
No, Primary sector mainly deals with the extraction of natural resources from nature, ex. fisheries, forestry, mineral resources, and etc. while banker belongs to the tertiary sector, which is a sector that provides services like retails, banks, insurance, and etc.
