REASONS FOR CHANGING IMPORTANCE OF BUSINESS CLASSIFICATION

• As countries grow, the primary sector gets smaller and the secondary and tertiary sectors grow.
• DEVELOPED COUNTRIES are countries where manufacturing is imported or conducted with high living standards.
• Developed countries have improved living standards, increased freedom, high income and investments and are mostly employed in the tertiary sector.
• DEVELOPING COUNTRIES are countries that have low income and investments compared to developed countries, low levels of education, poor housing and a high number of workers employed in the primary sector.
• Some countries in between developed and developing countries are called progressing countries.
• Developed countries that mainly work in the tertiary sector have some disadvantages as they will depend on the developing countries to provide them with basic needs.
• Eventually when these developing countries will progress it'll have a negative impact on developed countries as they will no longer have people working in the primary sector.