Brainscape Revision-3.3

Question 1

What is primary production?

Answer 1

The primary sector involves acquiring raw materials. For example, metals and coal have to be mined, oil drilled from the ground or rubber tapped from trees

Question 2

What is secondary production?

Answer 2

It is The manufacturing and assembly process. It involves converting raw materials into components, for example, making plastics from oil.

Question 3

What is the tertiary sector?

Answer 3

It refers to the commercial services that support the production and distribution process, eg insurance, transport or advertising.

Question 4

What is the Quaternary sector?

Answer 4

The quaternary sector of the economy is a way to describe a knowledge-based part of the economy, which typically includes services such as information technology, media, and research and development.

Question 5

What is an informal economy?

Answer 5

The informal economy is the diversified set of economic activities, enterprises, jobs, and workers that are not regulated or protected by the state. India has a large percentage of people working in the informal economy an example would be new delhi or kampala in Uganda.

Question 6

What is formal employment?

Answer 6

Sector which encompasses all jobs with normal hours and regular wages, and are recognized as income sources on which income taxes must be paid.

Question 7

What is informal trading?

Answer 7

The phrase “informal trader” means any person that carries on a business as a street vendor, hawker and include an employee of such person and for the purpose of this by-law, includes any person who trades in a public place.

Question 8

Primary Activities and jobs require (Low skill/Skill/Good Education)

Answer 8

Low skill. Countries with a high informal economy such as india has a higher amount of workers from this sector

Question 9

Tertiary Activities and jobs require (Low skill/Skill/Good Education)

Answer 9

Good education. Countries with a good formal economy have a high percentage of workers in the sector (Eg. New York)

Question 10

Secondary Activities and jobs require (Low skill/Skill/Good Education)

Answer 10

Skill, meaning the better the country’s infrastructure, the more people there will be in this sector

Question 11

Quaternary Activities and jobs require (Low skill/Skill/Good Education)

Answer 11

Good education, meaning that the country must be well developed and have a good education system established in order for people to work in this sector.

Question 12

Why do people work in the informal economy?

Answer 12

The money is not taxed, meaning they are less likely to work for businesses

Question 13

Why does a large informal economy negatively affect businesses

Answer 13

People are less likely to want to work for businesses as they can evade tax through working in the informal economy.

Question 14

In the pre-industrial period, which employment sector had the most workers?

Answer 14

Primary Jobs as there were much less skilled and educated workers

Question 15

In the industrial period, which employment sector had the most workers?

Answer 15

Begins with primary, but finally transitions to 1. Tertiary 2. Secondary jobs and 3.primary

Question 16

the informal economy in India still accounts for what percentage of non-agricultural employment?

Answer 16

80%, suggesting that India lacks the infrastructure to enforce the illegality of tax evasion

Question 17

The growing level of informal employment in the formal sector of New Delhi is largely due to what?

Answer 17

To the growing use of contract labour and outsourcing of production.

Question 18

The informal economy in New york takes up what percentage of the GDP?

Answer 18

8%, suggesting that the US has the capability and the infrastructure to punish and stop people working in the informal economy for tax evasive purposes

Question 19

Why is it difficult to measure the total number of workers within the informal economy?

Answer 19

As it is unregulated and the work is unregistered

Question 20

Why is the informal economy in New York much smaller proportionally to New Delhi’s?

Answer 20

India lacks the infrastructure which the US has, meaning you are much less likely to get caught and punished for tax evasion in India

Question 21

What percent of GDP is attributed to the informal sector in Kampala, Uganda?

Answer 21

Over 50%, suggesting that Kampala lacks the infrastructure and the capability to punish people evading tax

Question 22

The highest informality in developing countries such as kampala tend to he in what sector?

Answer 22

The highest informality tends to be in the agricultural sector