Basics of Economics

An automobile plant belongs to which economic sector?

• Secondary/Manufacturing sector

• Quaternary sector
• Primary sector
• Tertiary/Service sector

Which of the following is an example of an activity in the primary sector?

• Designing apps for smartphones

• Weaving blankets to sell

• Raising sheep for food and wool

• Running a hotel

What does GDP stand for?

• Global Domestic Product

• Gross Domestic Product

• General Domestic Product
• Gross National Product

Which of the following is NOT a component of GDP?

• Doctors

• Cars

• Clothes

• Natural Disasters

How can GDP be calculated?

• By evaluating the number of businesses

• By counting the number of things being produced

• By measuring the population of a country

• By adding up the value of goods and services

What sector of the economy includes teachers?

• services sector

•   tourism sector

•   entertainment sector

• manufacturing sector