Ch 1: Business sectors
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Questions and Answers

What sector involves the cultivation of crops, rearing of animals, and harvesting of natural resources?

  • Manufacturing Sector
  • Secondary Sector
  • Tertiary Sector
  • Primary Sector (correct)

    • Which sector focuses on turning raw materials into finished or semi-finished products?

  • Secondary Sector (correct)
  • Tertiary Sector
  • Primary Sector
  • Processing Sector

    • What activity is part of the primary sector and involves the extraction of minerals from the earth?

  • Manufacturing
  • Forestry
  • Fishing
  • Mining (correct)

    • Which sector involves the production of semi-finished products used in further manufacturing?

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

    In which sector do activities include both ocean and freshwater fishing?

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

    What is the main role of the secondary sector?

    <p>Turning raw materials into finished goods</p> Signup and view all the answers

    Which sector involves the management and harvesting of forests for wood and wood products?

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

    What is the primary role of the primary sector?

    <p>Extraction and harvesting of natural resources</p> Signup and view all the answers

    Which sector is responsible for the production of machinery or vehicles?

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

    What role does the tertiary sector play in an economy?

    <p>Delivering services and products</p> Signup and view all the answers

    Which activity is NOT included in the tertiary sector?

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

    What is the role of auxiliary services in the economy?

    <p>Bridging various gaps in production and consumption</p> Signup and view all the answers

    What type of businesses belong to the formal sector?

    <p>Businesses that comply with government regulations</p> Signup and view all the answers

    Which sector operates under government control and provides essential services?

    <p>Public Sector</p> Signup and view all the answers

    What is the main function of the private sector?

    <p>Operating for profit</p> Signup and view all the answers

    Which sector is responsible for the distribution of finished products?

    <p>Tertiary Sector</p> Signup and view all the answers

    What type of businesses face challenges due to limited access to formal credit and growth potential?

    <p>Informal sector businesses</p> Signup and view all the answers

    Which sector delivers professional services like healthcare and education?

    <p>Tertiary Sector</p> Signup and view all the answers

    What is a key characteristic of the formal sector?

    <p>Official compliance with regulations</p> Signup and view all the answers

    Which gap do auxiliary services related to 'storage' primarily address?

    <p>Time gap</p> Signup and view all the answers

    In which sector are businesses typically individually run and small-scale?

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

    What is the main function of the public sector?

    <p>Provides essential services under government control</p> Signup and view all the answers

    Which activities are included in the tertiary sector?

    <p><strong>Retail and Wholesaling</strong></p> Signup and view all the answers

    What is the main characteristic of the primary sector?

    <p>Extraction of natural resources</p> Signup and view all the answers

    What is a common challenge faced by businesses in the informal sector?

    <p>Access to formal credit</p> Signup and view all the answers

    Which sector focuses on providing services without profit motives?

    <p><strong>Non-Profit Organizations</strong></p> Signup and view all the answers

    Which sector involves transforming raw materials into finished or semi-finished products?

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

    What role does 'transport' serve in bridging gaps in different sectors?

    <p><strong>Ensures the movement of goods and information</strong></p> Signup and view all the answers

    If a business is involved in ocean fishing, which sector does it primarily belong to?

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

    'Professional Services' in the tertiary sector include which of the following?

    <p><strong>Healthcare and education</strong></p> Signup and view all the answers

    Which activity would be classified under the secondary sector?

    <p>Building a factory to produce electronics</p> Signup and view all the answers

    In which sector would you find the management and harvesting of forests for wood products?

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

    'Financing and Insurance' auxiliary services help bridge which gaps?

    <p><strong>Possession and risk gaps</strong></p> Signup and view all the answers

    What sets the tertiary sector apart from the primary and secondary sectors?

    <p>Service provision to consumers</p> Signup and view all the answers

    If a business is involved in cultivating crops for food production, which sector does it belong to?

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

    What type of activity falls under the secondary sector?

    <p>Building a plant to process milk into dairy products</p> Signup and view all the answers

    Which of the following best describes the secondary sector's role in the economy?

    <p>Transforming raw materials into finished products</p> Signup and view all the answers

    Which sector is primarily responsible for the production of semi-finished goods that are used in further manufacturing processes?

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

    Which sector includes the extraction of aquatic species from both ocean and freshwater sources?

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

    Which sector involves managing, cultivating, and harvesting forests for wood and wood products?

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

    Which sector focuses on turning raw materials into finished or semi-finished products, including machinery and vehicles?

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

    Which sector primarily involves the provision of professional services, such as healthcare and education, without a profit motive?

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

    Which sector includes activities like agriculture, which involves cultivating crops and rearing animals for food, fiber, and other products?

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

    Which sector is responsible for transforming raw materials into new products through various forms of production?

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

    Which sector includes activities like mining, which involves extracting minerals and other geological materials from the earth?

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

    Which sector includes activities like forestry, which involves managing, cultivating, and harvesting forests for wood and wood products?

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

    Which sector involves the extraction of aquatic species from both ocean and freshwater sources, as well as the management and harvesting of forests for wood products?

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

    Which of the following auxiliary services is responsible for managing the time gap between production and consumption?

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

    Which sector is responsible for the production of machinery, vehicles, and semi-finished products used in further manufacturing?

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

    Which of the following sectors is not involved in providing professional services that include healthcare, education, financial services, and more?

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

    Which sector is characterized by being unregistered businesses that operate outside the official regulatory framework and face challenges like limited access to formal credit and growth potential?

    <p>Informal Sector</p> Signup and view all the answers

    Which sector ensures the movement of goods and information, bridging the spatial gap between production and consumption locations?

    <p>Transport and Communication</p> Signup and view all the answers

    Which of the following auxiliary services focuses on addressing the quality and quantity gaps, ensuring products meet certain standards and are appropriately grouped?

    <p>Sorting and Grading</p> Signup and view all the answers

    Which sector delivers services and ensures the distribution and sale of finished products without being profit-driven, but rather funded by taxpayers to serve the public interest?

    <p>Public Sector</p> Signup and view all the answers

    Which sector is responsible for the cultivation of crops and the rearing of animals, generating raw materials for further processing and consumption?

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

    Which sector is responsible for the extraction of minerals from the earth, also known as mining?

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

    Which sector is responsible for the distribution of finished products, ensuring that goods are sold directly to consumers or in bulk to retailers?

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

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