Economic Activities and Industries Quiz

Industry and Economic Activity

• The secondary industry is related to the manufacturing of goods.
• An economic activity is defined as the production, distribution, and exchange of goods and services.

Business and Commerce

• The primary aim of a business is to earn profit.
• Commerce is related to the exchange of goods and services on a large scale, involving trade and commerce.

Industry Types

• The primary industry does not require investments, as it utilizes natural resources.
• The tertiary industry is responsible for creating utilities, such as electricity, water, and sanitation.
• The primary industry is involved in cattle breeding, among other activities.
• The secondary industry is responsible for processing already produced materials.
• The tertiary industry is considered a synthetic industry, as it produces intangible goods and services.
• The tertiary industry is responsible for the flow of goods from producers to consumers, facilitating distribution and exchange.