Chapter 2

Question 1

Define the term primary sector

Answer 1

The industry that extracts and uses the natural resources of the Earth to produce raw materials.

Question 2

Define the term secondary sector

Answer 2

The industry that manufactures goods using raw materials provided by the primary sector.

Question 3

Define the term tertiary sector

Answer 3

The industry that provides services to consumers and other sectors of the industry.

Question 4

Define the term mixed economy

Answer 4

This is an economy that has both a private and public sector.

Question 5

Define the term capital

Answer 5

The amount of money invested into a business by the owners.