Y10 Business Studies - C2 Classification of Businesses

What is the primary sector of economic activity?

• Involves providing services to consumers

• Involves the sale of manufactured goods

• Involves the extraction of the Earth’s natural resources

• Involves converting natural resources into finished products

Which sector involves converting natural resources into finished products?

• Primary sector

• Secondary sector

• Quaternary sector

• Tertiary sector

In which type of economy do both public and private sectors exist?

• Planned economy

• Mixed economy

• Traditional economy

• Market economy

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

• To regulate the economy

• To create employment

• To provide social welfare

• To make a profit

Which sector is primarily responsible for providing services?

• Secondary sector

• Primary sector

• Quaternary sector

• Tertiary sector

What is de-industrialisation?

• The growth of the primary sector

• The rise of the tertiary sector

• The decline of the secondary sector

• The establishment of new industries

Which of the following is an example of the tertiary sector?

• Farming

• Mining

• Construction

• Banking

What happens to the output of the primary sector in developing countries?

• It is more than the secondary sector

• It is the same as the tertiary sector

• It is less than the tertiary sector

• It is equal to the secondary sector

What is one reason for the decline in the secondary sector in developed countries?

• Higher employment in the primary sector

• Increased competitiveness from newly industrialised countries

• Natural resources becoming depleted

• Increased demand for primary goods

Which of the following is a characteristic of the public sector?

• Profit-driven

• Owned by private entities

• Focuses on competition

• Owned by the government