POB Class Activity

Identify whether the following is a "small business" or "cottage industry": This business tend to have simple home utensil or equipment

• Cottage Industry

• Small Business

Identify the sector of production: Constructing garments and clothing

• Primary production

• Secondary production

• Tertiary production

• Quaternary production

Identify the sector of production: Bauxite mining in Jamaica or Guyana

• Primary production

• Secondary production

• Tertiary production

• Quaternary production

Identify the sector of production: Construction Industry

• Primary production

• Secondary production

• Tertiary production

• Quaternary production

Identify the level of production: Providing goods for the international market

• Subsistence production

• Domestic production

• Export production

• Secondary production

What is the term for all activities involved in developing and exchanging products?

• Corporation

• Economics

• Entrepreneurship

• Business

Something a person must have to survive.

• iPhone X

• Need

• Service

• Want

An action or task that is performed, usually for a fee.

• iPhone X

• Need

• Service

• Want

A science that examines how goods and services are produced, sold, and used is called

• Corporation

• Economics

• Entrepreneurship

• Business

An organized way in which a nation chooses to use its resources to create goods and services.

• Competition

• Standard of Living

• Capitalism

• Economic System