Sectors and economies

Question 1

Public sector

Answer 1

Public sector: comprises organisations accountable to and controlled by central or local government (the state).

Question 2

Private sector

Answer 2

comprises businesses owned and controlled by individuals or groups of individuals.

Question 3

Mixed economy

Answer 3

economic resources are owned and controlled by both private and public sectors.

Question 4

Free market economy

Answer 4

economic resources are owned largely by the private sector with very little state intervention.

Question 5

Command economy

Answer 5

economic resources are owned, planned and controlled by the state.

Question 6

Industrialisation

Answer 6

growing importance of secondary manufacturers in a developing country

Question 7

Deindustrialisation

Answer 7

There is a decline in the importance of secondary-sector activity and an increase in the tertiary sector