
Ch. 2: Classification of Business
Flashcard
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Other
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10th - 12th Grade
•
Practice Problem
•
Hard
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1.
FLASHCARD QUESTION
Front
The primary stage of production is concerned with
Back
growing crops and extracting the earth's natural resources
2.
FLASHCARD QUESTION
Front
The tertiary sector of industry is the most important sector in high income countries because
Back
consumers' incomes are high so they spend more on services
3.
FLASHCARD QUESTION
Front
Which following businesses would you classify as being in the secondary sector of industry? Options: An oil exploration company, A family run farm business, A taxi operating business, A shoe manufacturer
Back
A shoe manufacturer
4.
FLASHCARD QUESTION
Front
Which of the following is the best definition of privatisation? Options: When private limited companies convert into public companies, When a partnership converts into a private limited company, When a state owned industry is sold to the private sector, When a private sector firm is purchased by the government
Back
When a state owned industry is sold to the private sector
5.
FLASHCARD QUESTION
Front
In a mixed economy which of these industries is most likely to be controlled by the government? Hotels and restaurants, Health and public transport, Building and taxi services, Food shops and farming
Back
Health and public transport
6.
FLASHCARD QUESTION
Front
Which one of the following is a disadvantage of privatisation? Options: Jobs might be lost as private owners try to cut costs, The government raises money which could help to reduce taxes, Less competition than when the industry was a monopoly, Politicians will now influence business decisions
Back
Jobs might be lost as private owners try to cut costs
7.
FLASHCARD QUESTION
Front
Changes in importance of different sectors of industry in a country is likely to be caused by: the exhaustion of the country's copper mines, an increase in the country's population, a long period of no increases in family incomes, government grants available to businesses in all sectors.
Back
the exhaustion of the country's copper mines
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