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Glanbia plc operates in the secondary sector of the economy - Leaving Cert Business - Question A - 2014

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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, such as furniture production, food processing, and construction. In this sector, companies like Glanbia plc are involved in processing agricultural products into food items for consumers.

Step 2

Name the two other sectors of the economy.

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Answer

  1. Primary Sector (Extractive Industry)
  2. Tertiary Sector (Services)

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