Business Studies·Types of business activity · NSSCO 1.2
Public & private sectors; the stages of production
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Who owns the businesses around us, and how do the goods we use actually get made? In this lesson we split every Namibian business into two big groups — the public sector, owned by the government, and the private sector, owned by private people chasing profit. We meet two opposite words, nationalisation and privatisation, and then follow a product through the three stages of production: primary, secondary and tertiary. By the end you'll be able to place any business in its sector with confidence.
What you'll learn in this lesson
By the end you should be able to (NSSCO Business Studies 1.2):
- Explain, with examples, the difference between public and private sectors, and ways of organising business activity
- Distinguish between nationalisation and privatisation
- Differentiate, with examples, between the different types of business activity in the primary, secondary and tertiary sectors
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