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Business Activity and Classification Quiz

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Questions and Answers

Which sector involves the extraction of natural resources like minerals and forestry?

Tertiary sector
Secondary sector
Quaternary sector
Primary sector (correct)

What is the main purpose of business activity?

To create employment opportunities
To dominate the market share
To maximize profits at any cost
To provide goods and services to satisfy consumer demand (correct)

Which factor of production refers to the number of people available to work?

Entrepreneurship
Land
Labor (correct)
Capital

Which sector includes activities related to manufacturing and processing raw materials into finished products?

Secondary sector (B) Signup and view all the answers

What is added value in the context of business activity?

The increase in worth or desirability of a product as a result of a particular activity (C) Signup and view all the answers

Which sector involves extracting natural resources such as minerals, land, or sea?

Primary sector (B) Signup and view all the answers

What is the purpose of business activity?

To provide consumers with goods and services (C) Signup and view all the answers

Which factor of production involves the number of people available to work?

Labor (C) Signup and view all the answers

Which sector involves the production of goods and services that are essential for living?

Primary sector (C) Signup and view all the answers

What is added value in business activity?

The process of increasing the value of goods and services (A) Signup and view all the answers

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