Level of Production

Which of the following is an advantage of the subsitence level of prodcution?

• Development of local talents

• Specialisation of industries

• Self-sufficiency of an economy

• Earning of foreign exchange

Granosia is a country that produces enough goods to meet the needs and wants of its people. However, there is very little of the produce left over for export. The government of Granosia ensures the development of local skills and talents in production. Identify the level of production at which the economy of Granosia is operating.

• Subsistence level of prodcution

• Domestic level of production

• Export-oriented production

• International level of production

The services that margaret, a waitress, provides by waiting tables at a restaurant is part of _______.

• primary production

• secondary production

• tertiary production

• mass production

Suppose Smith & Associates provides legal services to clients in Barbados. Identify the correct statement about the firm.

• The profits earned by the firm are not a part of the country's gross

• The services provided by the firm are an example of tertiary

• The lawyers employed by the firm are not a part of the country's labour

• The services provided by the firm are an example of an indirect service.

Which of the following statement is true?

• The conversion of cotton into fibre is an example of primary production

• The extraction of bauxite from one is an example of secondary production

• The assembling of automobile parts is an example of tertiary production

• The refining of petroleum into lubricating oil is an example of secondary production