Sectors

The factor market includes which of the following as factors of production?

• land, labor, capital, and entrepreneurship

• land, labor, and capital

• land only

• land and labor only

A group of firms that work together to reduce competition is referred to as

• entrepreneurship

• private sector

• trust

• monopoly

Which of these is where households buy goods and services that firms produce?

• private sector

• labor market

• factor market

• product market

According to the circular flow model of the private sector, what do households contribute to the product market?

• selling of land, labor, capital

• earn income from selling resources

• selling goods and services

• buying goods and services

How many economy sectors do we learn?

• 1

• 2

• 3

How do we called the sectors?

• First sector, secondary sector and three sector

• Primary sector, secondary sector and tertiary sector

• Primary sector, two sector and three sector

In the primary sector...

• we obtain raw materials

• we transform raw materials into products

• we provide jobs

In the secondary sector workers...

• they work in shops

• obtain raw materials

• transform raw materials into products

In the tertiary sector...

• we can find health services, transports and raw materials

• we can find health services, transports, emergency services...

• we can find transports and lumberjack

In the primary sector we can find...

• fishing, mining, farming and agriculture

• mining, doctors and craf workers

• craft workes, industry and fishing