Chapter 14 Sectors of Production/Sectors of Economy

Chapter 14

Sectors of Production/Sectors of Economy

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Multiple Choice

All of the things necessary to use in production of something is called...

• Production

• Resources

• Output

Multiple Choice

What are the four factors of production?

• Land, Capital, Need & Want

• Land, Labour, Capital, Entrepreneurs

• Water, Air, Food & Shelter

• Land, Capital, Good & Service

Multiple Choice

Each society must determine how to best use its _______?

• People

• Land

• Other Natural Resources

• All of the above

Multiple Choice

Capital refers to...

• Natural resources not created by human effort

• People with all their efforts and abilities

• The tools, equipment, and factories used in production of goods and services

• Individuals who start a new business or bring a product to market.

Multiple Choice

Capital used up in the daily running of the business is referred to as:

• Working Capital

• Fixed Capital

• Venture Capital

• Human Capital

Multiple Choice

Capital reused in the business for a long period is referred to as

• Venture capital

• Fixed capital

• Working capital

• Human capital

Multiple Choice

An entrepreneur is a person who _______________.

• owns their own business

• uses goods and services to produce labor, land, and capital.

• use land, labor, and capital to produce good and services.

• loves nature and runs a business

Multiple Choice

_______________ is known as the manmade resource used to produce goods and services.

• Entrepreneurs

• Capital

• Labour

• Land

Multiple Choice

What is labour?

• Anything coming from nature

• Robots working

• Work people do for pay to produce good and services

• The money people get for inheritance

Multiple Choice

_______________ is known as the natural resource used to produce goods and services

• Entrepreneurs

• Capital

• Labor

• Land

Multiple Choice

What part of the picture is the land resources?

• Rope

• Rock mountain

• Rock climber

Multiple Choice

An office building is an example of...

• Land

• Labor

• Entrepreneurs

• Capital

Multiple Choice

Which factor of production would you consider a cow?

• Land

• Labour

• Capital

• Entrepreneur

Multiple Choice

A garbage truck driver is an example of which Factor of Production?

• Land

• Labour

• Enterprise

• Capital

Multiple Choice

Creativity

• Land

• Labor

• Physical capital

• Human capital

• Entrepreneurship

Multiple Choice

Machinery

• Land

• Labor

• Capital

• Entrepreneurship

Multiple Choice

Steve Jobs the founder of Apple is holding up an I-phone. What is another name for someone who starts a business?

• Capital

• Entrepreneur

• Land

• Labour

Multiple Choice

How many sectors of economy are there?

• 2

• 3

• 4

Multiple Choice

Teacher

• Primary (Extraction)

• Secondary (Production)

• Tertiary (Services)

Multiple Choice

Carpenter

• Primary (Extraction)

• Secondary (Production)

• Tertiary (Services)

Multiple Choice

Farmer

• Primary (Extraction)

• Secondary (Production)

• Tertiary (Services)

Multiple Choice

Driver

• Primary (Extraction)

• Secondary (Production)

• Tertiary (Services)

Multiple Choice

Miner

• Primary (Extraction)

• Secondary (Production)

• Tertiary (Services)

Multiple Choice

Construction Worker

• Primary (Extraction)

• Secondary (Production)

• Tertiary (Services)

Multiple Choice

Which one is not a cause of deindustrialisation?

• As a country becomes richer its citizens spend more on services (education, restaurants, healthcare, etc.)

• Focus on primary sector

• Machines replace people

• More tax revenue to spend on the public sector (education, healthcare, etc.)

Multiple Choice

Which level of economic development are countries where people are beginning to move from rural to urban areas in search of factory jobs?

• More Developed

• Newly Industrialised

• Less Developed

Multiple Choice

Countries in this level of economic development have most of their people living in rural areas.

• More Developed

• Newly Industrialized

• Less Developed

Multiple Choice

Countries with strong infrastructure [transportation/ communication/ healthcare/ education systems] would be which level of economic development?

• More Developed

• Newly Industrialized

• Less Developed

Multiple Choice

The sector of the economy that has the least jobs available in developed countries is the...

• Primary sector

• Secondary sector

• Tertiary sector

Multiple Choice

The sector of the economy that has the most jobs available in developing countries is the...

• Primary sector

• Secondary sector

• Tertiary sector

Open Ended

Look at the picture. Briefly explain what happens as a developing country becomes developed.