ACC 100 Chapter Notes - Chapter 1: Tertiary Sector Of The Economy, Secondary Sector Of The Economy, Primary Sector Of The Economy

• School: Ryerson University
• Department: Accounting
• Course: ACC 100
• Professor: Donna Zathy

Document Summary

The activity of making, buying, or selling goods or providing a service in exchange for money merriam-webster: not-for-profit charities, barter businesses exchange one good/service for another. Video what"re the three main business sectors? (video questions: primary sector where we grow/gather raw materials, ex. potato farms, coal mining, oil drilling, trillion, secondary sector where raw materials are turned into products, ex. What is our focus: this course will focus on tertiary, retailer earns profit by reselling goods/services to the public, wholesaler buy large quantities and sells to retailers, not public. Who cares about a business and why: stakeholders do, stakeholders who affect the business or are effected by the actions of the business. Internal stakeholders work for the business: obj = keep job, do job more efficiently, get promoted, get paid, external stakeholders outside of the business, obj decisions they will make about money (a. k. a. resource allocation decisions)