10 Questions
Which sector involves the extraction of natural resources like minerals and forestry?
Primary sector
What is the main purpose of business activity?
To provide goods and services to satisfy consumer demand
Which factor of production refers to the number of people available to work?
Labor
Which sector includes activities related to manufacturing and processing raw materials into finished products?
Secondary sector
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
Which sector involves extracting natural resources such as minerals, land, or sea?
Primary sector
What is the purpose of business activity?
To provide consumers with goods and services
Which factor of production involves the number of people available to work?
Labor
Which sector involves the production of goods and services that are essential for living?
Primary sector
What is added value in business activity?
The process of increasing the value of goods and services
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.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
