3.1 Classification and changes over time

Question 1

Economic Activity

Answer 1

The various actions and processes that contribute to the production, distribution, and consumption of goods and services within an economy.

Question 2

Economic Sectors

Answer 2

The categories or divisions of economic activity that help classify and analyze different types of economic processes within a country or region.

Question 3

Primary Sector

Answer 3

The sector of the economy focused on extracting and harvesting natural resources, such as agriculture, mining, and forestry.

Question 4

Secondary Sector

Answer 4

The sector of the economy that involves manufacturing and processing raw materials into finished goods, including industries like manufacturing and construction.

Question 4

Tertiary Sector

Answer 4

The sector of the economy that focuses on providing services rather than tangible goods, such as retail, healthcare, and education.

Question 4

Employment

Answer 4

The state of being engaged in paid work or having a job, a key indicator of a country’s economic health.

Question 5

Unemployment

Answer 5

The condition of being without a job despite actively seeking employment, which can be an economic and social concern.