Economic Sectors and Their Functions

The video tutorial explores the classification of business sectors, focusing on the primary, secondary, and tertiary sectors. It explains the stages of production and provides examples of activities within each sector. The video discusses the relative importance of these sectors in developing and developed countries, highlighting factors that influence their significance. It also examines recent changes in sector importance, emphasizing the growth of the tertiary sector due to technological advancements and deindustrialization.

What are the three main sectors of economic activity discussed in the video?

• Natural, Industrial, and Service

• Agriculture, Manufacturing, and Services

• Primary, Secondary, and Tertiary

• Production, Distribution, and Consumption

Which sector is responsible for extracting natural resources?

• Quaternary Sector

• Primary Sector

• Tertiary Sector

• Secondary Sector

What is the main activity of the secondary sector?

• Retailing goods

• Extracting raw materials

• Providing services

• Manufacturing products

Which sector involves providing services to customers and businesses?

• Quaternary Sector

• Tertiary Sector

• Secondary Sector

• Primary Sector

In developing countries, which sector is typically the most important?

• Primary Sector

• Tertiary Sector

• Quaternary Sector

• Secondary Sector

What is a common characteristic of developed countries regarding sector employment?

• High employment in the primary sector

• High employment in the secondary sector

• Balanced employment across all sectors

• High employment in the tertiary sector

What is the term used to describe the decline in the manufacturing sector?

• Industrialization

• Post-industrialization

• Deindustrialization

• Reindustrialization

Why are developed countries focusing more on the tertiary sector?

• Because of higher consumer spending on services

• Because of increased competitiveness in manufacturing

• Due to depletion of natural resources

• Due to lack of industrial resources

Which sector is growing rapidly due to technological advancements?

• Primary Sector

• Secondary Sector

• Tertiary Sector

• Quaternary Sector

What factor does NOT influence the importance of a sector in an economy?

• Geographical location

• Value of output

• Number of workers employed

• National output proportion