Crop production including oilseed and grain farming, vegetable and melon farming, fruit and tree nut farming, greenhouse, nursery, and floriculture production, and other crops (tobacco, cotton, sugarcane, etc) farming.Agriculture, Forestry, Fishing, and Hunting.We can use The North American Industry Classification System (NAICS) to classify the following industries and their products as primary sector industries: Primary Economic Activity: Industry Classification Of Company P & Company S, Company T is said to be involved in a tertiaryĮconomic activity. Since Company T’s businessĪctivity involves financially supporting the smooth running of the businesses Both Company P and Company S have a line ofĬredit from Company T to carry on their primary activities of iron oreĮxtraction and steel manufacturing respectively. Therefore, Company S is engaged in a secondary economic activity.Ĭompany T is a banking company which finances Here, Company P’s primary output is being used as an input to manufacture Company S’s main output. Since iron is the primary raw material required to make steel (along with carbon), Company S purchases large quantities of iron from Company P. Since the coreĪctivity is the extraction of a natural resource, we can classify Company P toīe engaged in a primary economic activity.Ĭompany S is a steel manufacturer in Minnesota. The company uses aĬombination of technology and manpower to perform this activity. E.g., ServicesĮxtraction of iron ore from mines in the state of Minnesota.
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