In a car plant, different people fitting the headlights, seats, etc. Vauxhall makes only cars Division of Labour When production is split into different tasks performed by different people. +Example When a business concentrates on a particular industry or part of that industry. Tertiary Sector: Sells products/ services to customers/DFS Chain of Production The sequence of a product passing through the three sectors of production Specialisation Secondary sector: Manufactures goods using raw materials/Furniture maker Primary: Extracts/sells raw materials /Woodcutter +What are the sectors (definitions and examples) The three stages a product passes through before reaching the consumer. The product must be desirable and important to customers Sectors of Production Increase selling price, decrease cost of materials +Justify adding value The difference between selling price and cost of materials. Enterprise Skill/risk-taking ability of entrepreneurs. Labour Man-power used in a copmany Capital Finance and machinery Entrepreneur Someone who organises, operates and takes risks in a new business venture.
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