10 Questions
Which sector involves extracting natural resources?
Primary sector
What is the purpose of business activity?
To provide consumers with goods and services that meet their needs and wants
What is added value in business activity?
The process of increasing the worth of resources by modifying them
Which factor of production involves the number of people available to work?
Labor
What differentiates primary and secondary sectors?
Primary sector involves extracting natural resources, while the secondary sector involves manufacturing
What is the purpose of business activity?
To provide consumers with goods and services that meet their needs and wants
Which sector includes activities related to farming, fishing, forestry, and mining?
Primary sector
What does the term 'added value' refer to in business activity?
Selling a product for more than it cost to produce
Which factor of production involves the number of people available to work?
Labor
Which sector involves the production of goods that are not essential for living but are desired by people?
Secondary sector
Test your knowledge of business activity and classification of businesses with this quiz. Challenge yourself with questions on added value, the purpose of business activity, and how businesses are classified into different categories. Sharpen your understanding of the processes involved in providing goods and services to meet consumer needs and wants.
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