Glanbia plc operates in the secondary sector of the economy - Leaving Cert Business - Question A - 2014
Question A
Glanbia plc operates in the secondary sector of the economy. Explain what is meant by the 'secondary sector'.
Name the two other sectors of the economy.
Worked Solution & Example Answer:Glanbia plc operates in the secondary sector of the economy - Leaving Cert Business - Question A - 2014
Step 1
Explain what is meant by the 'secondary sector'.
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Answer
The secondary sector refers to the part of the economy that transforms raw materials from the primary sector into finished goods. This includes manufacturing industries that produce items such as furniture, electronics, and food products. The role of the secondary sector is crucial as it adds value to raw materials and creates employment opportunities. Additionally, it encompasses construction industries that create infrastructure such as buildings and roads, providing further economic opportunities, particularly in areas with supportive economic conditions.
Step 2
Name the two other sectors of the economy.
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Answer
Primary Sector (Extractive Industry)
Tertiary Sector (Services)
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