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?

    <p>Secondary sector</p> Signup and view all the answers

    What is added value in the context of business activity?

    <p>The increase in worth or desirability of a product as a result of a particular activity</p> Signup and view all the answers

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

    <p>Primary sector</p> Signup and view all the answers

    What is the purpose of business activity?

    <p>To provide consumers with goods and services</p> Signup and view all the answers

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

    <p>Labor</p> Signup and view all the answers

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

    <p>Primary sector</p> Signup and view all the answers

    What is added value in business activity?

    <p>The process of increasing the value of goods and services</p> Signup and view all the answers

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