Business Storyboard

  Copy


More Options: Make a Folding Card




Storyboard Description

This storyboard does not have a description.

Storyboard Text

  • An example of a country with the primary sector as the most important sector in business activity is Nepal. In Nepal, the economy is less developed and the primary sector plays an important role in the GDP within a less developed country, laying the foundation for a country to build economically. There is often limited capital to develop secondary production and incomes are low so little is spent on services as they barely can afford their basic needs.
  • An example of a country with a labour force that is more evenly distributed between the three sectors is Brazil. Brazil has a developing economy, and there is still plenty of competition in the manufacturing industries.
  • An example of a country with the tertiary sector as the most important sector in business is the USA. USA has a developed economy. It has lost competitiveness in secondary production to other countries (deindustrialization) and a high proportion of consumers’ incomes are spent on services in stead of goods due to the high standards of living.
  • Hong Kong has a developed economy, and the secondary sector of business activity might become less important to Hong Kong’s economy over time as most developed economies are losing competitiveness in manufacturing to newly industrialized countries, which is also known as de-industrialization. Many manufacturing industries have relocated to other parts of the world so they can make profits where there are cheaper production costs, less working regulations and cheaper land. In Hong Kong's case, compared to China, it has much higher costs regarding production processes and large amounts of profit cannot be as easily gained. Therefore, a lot of industries that used to be in Hong Kong has relocated to China.
Just Created with Storyboard That
Explore Our Articles and Examples

Try Our Other Websites!

Photos for Class – Search for School-Safe, Creative Commons Photos! (It Even Cites for You!)
Quick Rubric – Easily Make and Share Great Looking Rubrics!