Podcast
Questions and Answers
Which sector represents a large grouping of companies engaged in similar business activities?
Which sector represents a large grouping of companies engaged in similar business activities?
- Tertiary sector
- Quaternary sector
- Primary sector (correct)
- Secondary sector
In which sector are oil and gas companies categorized?
In which sector are oil and gas companies categorized?
- Quaternary sector
- Secondary sector
- Primary sector (correct)
- Tertiary sector
What represents a more specific grouping of companies within a particular sector?
What represents a more specific grouping of companies within a particular sector?
- Corporation
- Industry (correct)
- Market
- Enterprise
Which industry is concerned with the processing and production of goods and services?
Which industry is concerned with the processing and production of goods and services?
In which industry are companies engaged in services like education, healthcare, and hospitality categorized?
In which industry are companies engaged in services like education, healthcare, and hospitality categorized?
Study Notes
Sector Classification
- A sector represents a large grouping of companies engaged in similar business activities.
- The oil and gas companies are categorized in the energy sector.
Industry Classification
- An industry represents a more specific grouping of companies within a particular sector.
- The industry concerned with the processing and production of goods and services is categorized as manufacturing.
- Companies engaged in services like education, healthcare, and hospitality are categorized in the service industry.
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Description
Test your knowledge of economic sectors with this quiz. Learn about the 4 main types and how they function within the economy. Understand the differences between sectors and industries, and how companies within each sector are grouped based on similar business activities.
