ACC 100 Lecture Notes - Lecture 1: Secondary Sector Of The Economy, Financial Statement, Grocery Store
11 Oct 2016
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Primary: taking raw materials from the earth. Secondary: manufacturing using the resources from the primary sector to transform the resources into finished goods. Tertiary: services and selling retail/wholesale: includes the transportation and distribution of goods. A fashion designer would be considered the secondary sector as she is using raw materials and processing them into finished goods. Retailer: earns profit by reselling goods or providing services to consumers to satisfy wants and needs. Wholesaler: buys large quantities of goods from manufacturers, warehouses them, and resells them to retailers. Stakeholders: individuals who influence the business or who are affected by the actions of the business. Have objectives- something they want from their relationship. Internal stakeholders: work for the business, generally to the ability of keeping their jobs, getting promoted and paid for their work. External stakeholders: outside of the business, related to the decisions they will make about money and how it would affect them.
