Classification of Businesses

What is true about businesses in the public sector?

• They are owned and controlled by a private individual

• They are owned by the government but run by private individuals

• They are owned and controlled by the government only

• They have mixed ownership and control between the government and private individuals

What is the main focus of businesses in the primary sector?

• Manufacturing products

• Extracting natural resources from the Earth

• Providing services

• Technology and research

Which sector of the economy is known as the service sector?

• Tertiary sector

• Secondary sector

• Primary sector

• None of the above

Which of the below are examples of a secondary sector business?

• Logging

• Insurance company

• Extraction on oil

• The building of a hospital

A hotel is an example of a business in which sector?

• Primary sector

• Secondary sector

• Tertiary sector

• Don't know

Businesses in the private sector are owned and controlled by private individuals.

• True

• False

The more developed a country is, the more focused it is on which sector?

• Primary sector

• Secondary Sector

• Tertiary sector

• Don't know

The poorer a country, the more focused it is on which sector?

• Primary sector

• Secondary sector

• Tertiary sector

• Don't know

What is (are) the reason (s) why the business sectors importance would change?

• Sources of primary products like oil

  and gas become depleted

• As wealth and standards of living

  increase, people spend so much

  more on services like travel and

  restaurants etc...

• Developed countries are losing

  competitiveness in manufacturing to

  newly industrialized countries like Brazil & China

• All of the above

A country having both a private and a public sector is said to a ________ economy.

• Command economy

• Mixed economy

• Free economy

• Private and public sector economy