Chapter 2

Question 1

What are the stages of economic activities?

Answer 1

There are three stages of economic activity is:

1) primary
2) secondary
3) tertiary

Question 2

What are the two ways in which a country’s economy compared by?

Answer 2

The two ways are:
1) the percentage of the country’s total number of workers employed in each sector
Or
2) value of output of goods and services and the proportion this is of total national output.

Question 3

Name some sectors with only public sector?

Answer 3

Defence,arms and atomic

Question 4

What is privatisation mean?

Answer 4

A change from public sector to private sector.

Question 5

What is de-industrialisation mean?

Answer 5

De- industrialisation occurs when there is a decline in the importance of the secondary manufacturing sector of industry in a country.

Question 6

What are the several reasons for changes in the relative importance of three sectors over time?

Answer 6

There are several reasons for changes in the relative importance of three sector over time:

1) sources of some primary products become depleted
2) most developed economies are doing competitive in development country .
3) as a country’s wealth increases and living standard rises, consumers tend to spend a higher proportion of their income on services than on manufactured products produce from primary sectors.