ECONOMIC ACTIVITY

Economic activity is BEST defined as:

• Manufacturing of services
• Consumption of production
• Production, distribution, and consumption of goods and services within an economy.
• Transportation of goods only

Economic activity which involves extracting raw materials is called ___________ economic activity.

The activity in the image above involves converting a raw material to a finished product. This is called:

• Secondary economic activity

• Primary economic activity

• Extractive industries

• Tertiary economic activity

Which of the following is not an example of primary economic activity?

• Farming

• Construction work

• Fishing

• Mining precious metals

What is the primary goal of economic activity?

• Maximizing profits for businesses

• Ensuring sustainable development

• Production, distribution, and consumption of goods and services within an economy

• Minimizing costs for consumers

Which of the following is an example of tertiary economic activity?

• Manufacturing automobiles

• Providing healthcare services

• Mining coal

• Farming wheat

What term is used to describe the process of buying and selling goods and services?

• Bartering

• Trade

• Investing

• Manufacturing

The image shown here is an example of:

• Secondary economic activity

• Tertiary economic activity

• Service Industries

• Primary economic activity.

The practice of rearing animals or raising crops is known as:

Growing one crop for commercial reasons is known as:

• Crop rotation

• Monoculture

• Mixed cropping

• Slash and burn farming