Understanding Economic Sectors and Business Environments

What does the primary sector focus on?

• Manufacturing of products

• Extraction of natural resources

• Providing services to consumers

• Distribution of goods

Which sector is often referred to as manufacturing industries?

• Market environment

• Secondary sector

• Primary sector

• Tertiary sector

What is the extent of control in the micro environment?

• Full control

• Some control

• Limited control

• No control

Which of the following is a challenge in the market environment?

• Competition

• Difficult employees

• Political changes

• Changes in income levels

What role does the tertiary sector play?

• Providing final products and services

• Transforming natural resources

• Extracting raw materials

• Manufacturing products

Which of the following is a characteristic of the macro environment?

• Internal business processes

• Uncontrollable external factors

• Immediate external factors

• Full control

What is the primary sector dependent on?

• Technological advances

• Market trends

• Natural environment

• Human resources

Which of the following best describes the secondary sector?

• Focuses on extraction of resources

• Involves providing services

• Involves manufacturing and production

• Deals with uncontrollable external factors

What is a challenge faced by the micro environment?

• Socio-economic issues

• Lack of adequate management skills

• Globalization

• Changes in consumer behavior

What does the market environment refer to?

• Internal business processes

• Uncontrollable external factors

• Immediate external factors

• The business itself