(a) The chart above gives the main divisions of Commerce, complete the chart by filling in the blank spaces labeled (i) to (viii).
(b) Explain the following, give one example of each:
(i) Primary production (ii) Secondary production (iii) Tertiary production.
Explanation
(b)(i) Primary Production: Primary production refers to all activities that involve the extraction of raw materials from the earth or sea. Examples: farming, fishing, forestry, quarrying, mining and oil drilling, etc
(ii) Secondary Production: Secondary Production involves manufacturing and construction activities which make use of raw material to produce finished products. Examples are textiles, furniture making, vehicle assembly, basketry, weaving, tailoring, etc
(iii) Tertiary Production: Tertiary Production involves the provision of commercial activities and professional services to satisfy human wants. Examples includes, Teaching, Nursing, Banking, Insurance, Management consultancy, Auditing, Advertising, etc.