Last Updated 10 Aug 2020

A business or sector

Category business
Essay type Research
Words 536 (2 pages)
Views 268

In this assignment I have been given a task to elaborate the meaning of these three factors; growth, relative and absolute decline. I also have to describe two areas of growth and decline in the primary, secondary and tertiary sectors where I will explain the reasons for these changes. Growth is when a business or sector increases; this means they produce more goods, and grow raw materials such as crops or are increasing the goods and/or services they provide mobile phones and customer assistance.

Their scale of business also grows; branches increase, higher output in their business and more employees will be employed. Decline is the opposite of growth; production of business fails to produce, lost of customers increase, employees decrease and income of profit reduces. Relative decline is when a business or sector is not performing as well as it should. Absolute decline is when the performance of a business or sector lacks and will one day disappear.

Primary sector - Growth Organic farming industry has grown and has become profitable for any business.

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Since the early 1990s organic food production has had growth rates of around 20% a year and Future growth is expected to range from 10-50% annually depending on the country); it has grown because of trends, lifestyle and profitability; in this day and age people prefer eating organic food, they buy fruits, vegetables, etc rather than buying fast foods and foods which contain chemicals. It has also become part of their everyday life to eat such foods. In addition this helps the business to grow and make profit.

Fish farm industries have grown in the last few years. It is because if trends that fish farming has increased. Many people consume fish that some species face extinction like salmon, prawns, catfish etc. To prevent extinction, they decided to farm fishes, this involves raising fish commercially in tanks or enclosures, usually for food. A facility that releases juvenile fish into the wild for recreational fishing or to supplement a species

Primary sector - Decline In this day and age mining has become scanty due to the amount of diamonds left.

It is because of trends and fashion that diamonds are less of its number; so many people nowadays wear diamonds, on their fingers as a ring, around their neck as a necklace and on their wrist as a bracelet. It has become very popular in our age which makes many people purchase them around the world and causes less of their number. Fishing, this activity has become less practiced due to the amount of fishes left in the sea; "oceans have been so over fished that some species face extinction,") such as salmon and prawns; which are very popular fishes to the public. D escribe the size and structure of the food retailing sector

It is because of trends that fishes are decreasing; "In China, for example, fish consumption has doubled in the past 15 years", in some cultures the only meat they eat is fish, and for some people fish is the only healthy meat to consume. "One recent report in the journal Science predicted that if fishing carries on as it is now, 90 per cent of the world's fisheries will be exhausted within the next 40 years. "

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A business or sector. (2018, Jun 18). Retrieved from https://phdessay.com/a-business-or-sector/

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