Ch. 2: Classification of Business
2 years ago
deanhoss
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  • Question 1
    20 seconds
    Q. The primary stage of production is concerned with
    answer choices
    growing crops and extracting the earth's natural resources
    providing services to consumers and industry
    converting raw materials into finished goods
    transporting goods to the final consumer
  • Question 2
    20 seconds
    Q. The tertiary sector of industry is the most important sector in high income countries because
    answer choices
    agricultural output is more important than services
    they use most of their income to buy manufactured goods
    workers are employed in manufacturing in these countries
    consumers' incomes are high so they spend more on services
  • Question 3
    20 seconds
    Q. Which following businesses would you classify as being in the secondary sector of industry?
    answer choices
    An oil exploration company
    A family run farm business
    A taxi operating business
    A shoe manufacturer
  • Question 4
    20 seconds
    Q. Which of the following is the best definition of privatisation?
    answer choices
    When private limited companies convert into public companies
    When a partnership converts into a private limited company
    When a state owned industry is sold to the private sector
    When a private sector firm is purchased by the government
  • Question 5
    30 seconds
    Q. In a mixed economy which of these industries is most likely to be controlled by the government?
    answer choices
    Hotels and restaurants
    Health and public transport
    Building and taxi services
    Food shops and farming
  • Question 6
    20 seconds
    Q. Which one of the following is a disadvantage of privatisation?
    answer choices
    Jobs might be lost as private owners try to cut costs
    The government raises money which could help to reduce taxes
    Less competition than when the industry was a monopoly
    Politicians will now influence business decisions
  • Question 7
    20 seconds
    Q. Changes in importance of different sectors of industry in a country is likely to be caused by
    answer choices
    the exhaustion of the country's copper mines
    an increase in the country's population
    a long period of no increases in family incomes
    government grants available to businesses in all sectors
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