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Unit 3 - Types of Industries and Businesses

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Unit 3 - Types of Industries and Businesses

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Questions and Answers

What is the primary function of industries classified as primary?

Provision of highly specialized and expensive technology services

Processing of raw materials into finished goods

Recovery of natural resources from the environment (correct)

Distribution of manufactured goods to consumers

What was the main consequence of the Industrial Revolution in Britain in the 18th century?

The decline of the quaternary sector in Canada

The increase in manufacturing and distribution of goods (correct)

The growth of the service industry in Canada

The development of primary industries in Canada

What is the main characteristic of the tertiary sector in Canada?

It provides a wide range of services to support primary and secondary industries (correct)

It is dependent on foreign markets for goods

It involves the extraction of natural resources

It is the most important industry in terms of labor force

What is the main advantage of a sole proprietorship?

Control over decision making Signup and view all the answers

What is the main characteristic of a partnership?

Two or more owners bound by a legal agreement Signup and view all the answers

What is the main characteristic of a corporation?

Shareholders recognized as a legal entity Signup and view all the answers

What is the quaternary sector primarily involved in?

The provision of highly specialized and expensive technology services Signup and view all the answers

What is the main reason why Canada is still dependent on foreign markets for certain goods?

Historical dependence on European markets Signup and view all the answers

What is the main consequence of the movement towards automation in manufacturing?

Decrease in the number of workers needed Signup and view all the answers

What is the main advantage of the transcontinental railway in the development of Canadian industries?

Cheaper transportation of goods across the country Signup and view all the answers