Quiz on Economic Sectors

Which sector is responsible for extracting and using the earth's natural resources to produce raw materials for other businesses?

• Primary Sector

• Secondary Sector

• Tertiary Sector

• Quaternary Sector

In which type of countries is the primary sector the most important, with more employees and output produced than in secondary and tertiary sectors?

• Developed Countries

• Developing Countries

• Industrialized Countries

• Emerging Markets

What is the main aim of businesses in the private sector?

• To provide a service

• To make profits

• To support the government

• To reduce costs

What occurs when there is a decline in the importance of the secondary sector?

• Industrialization

• De-industrialization

• Globalization

• Urbanization

Which sector provides services to consumers and other industry sectors?

• Primary Sector

• Secondary Sector

• Tertiary Sector

• Quaternary Sector

What does privatisation refer to?

• Selling a private sector business to the public sector

• Selling a public sector business to the private sector

• Merging two public sector businesses

• Nationalizing a private sector business

Which of the following is an argument for privatisation?

• Increased unemployment

• Less focus on social objectives

• More efficient use of capital

• Higher taxes

Which characteristic is NOT typically associated with entrepreneurs?

• Hard-working

• Risk-averse

• Creative

• Self-confident

What is one argument against privatisation?

• Improved product quality

• Increased unemployment

• More efficient use of capital

• Better customer service

Which of the following is an advantage of being an entrepreneur?

• Entrepreneurs have to put their own money into the business.

• Many entrepreneur’s businesses fail.

• Able to make use of personal interests and skills.

• Lack of knowledge and experience in starting a business.