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GCSE Commerce Syllabus

This document discusses production and industries. It defines production as the creation of value through goods and services. The chain of production involves converting raw materials through a series of stages to create finished products. There are three main branches of production: primary production extracts natural resources; secondary production manufactures goods from primary products; and tertiary production provides services. The four main types of industries are extractive industries like mining, manufacturing industries like textile production, construction industries like building, and tertiary industries like banking. Specialization and the division of labor allow industries to separate work into specific tasks.

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2K views3 pages

GCSE Commerce Syllabus

This document discusses production and industries. It defines production as the creation of value through goods and services. The chain of production involves converting raw materials through a series of stages to create finished products. There are three main branches of production: primary production extracts natural resources; secondary production manufactures goods from primary products; and tertiary production provides services. The four main types of industries are extractive industries like mining, manufacturing industries like textile production, construction industries like building, and tertiary industries like banking. Specialization and the division of labor allow industries to separate work into specific tasks.

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FETSYSTEM
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Importance of production
Definition:
Creation of value
Goods and services are produced to satisfy needs and wants of the people.

Chain of production
The chain of production involves a series of stages, which add value to the end product.
Production chain is the steps taken to convert raw materials into goods
Primary, Secondary and Tertiary

Branches of production
Primary production
Secondary production
Tertiary production

Primary production
Primary sector involves changing natural resources into primary products
The primary sector of the economy extracts or harvests products from the earth.

Examples:
 Fishing , mining
 Farming
 Forestry

Secondary production
Secondary sector converts the primary goods into manufactured goods
The secondary sector of the economy manufactures finished goods.

Examples:
 Construction
 Textile production
 Processing

Tertiary production
Tertiary sector is the service industry which only provides services to its customers.
Examples:
 Banking
 Haircutting
 Teaching

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www.fetsytem.com IGCSE COMMERCE TOPIC 1]

Types of industries
 Extractive industries
 Manufacturing industries
 Construction industries
 Tertiary industries

Extractive industries
The extractive industry is concerned with the physical taking out of metals and minerals from
the Earth
Examples:
 Mining
 Quarrying
 Dredging

Manufacturing industries
The industry where raw materials are converted to finished goods by the use of tools and
machines
Examples:
Car manufacturing
Textile manufacturing

Construction industries
The industry where land development is done.
Repairing, building or renovating
Examples:
 House building
 Plaza building

Tertiary industries
The industries which are providing services
Examples:
 Banking
 Haircutting
 Doctors

Specialisation and Division of Labour

Specialisation
To do something at which you are best
Division of labour
To divide the work into stages
Separation of work process into tasks, and each task is performed by a separate person or
group

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