Secondary economic sector - Study guides, Class notes & Summaries

Need - Answer A good or service that is essential for people's living Want - Answer A good or service which people want to have, not essential Economic problem - Answer When wants exceed the resource available to make scarcity Scarcity - Answer when there are unlimited wants but limited resources Factors of Production (4) - Answer Land, labor, capital, enterprise Opportunity cost - Answer The next best alternative choice given up as another was chosen Specializatio...

OMIS 450 Exam 1 Questions With 100% Verified Answers Why was there a surge of interest in service operations. - answer• Quality Movement • Significant role in economic life definition of services - answerEconomic activity that produces time, place, form or psychological utilities. definition of services - answerAll economic activities whose output is not tangible definition of services - answerTime-perishable, intangible experience performed for a customer acting in the role of a co-...

Sociology 101 Straighterline Exam Questions and Complete Solutions __________ involves aspects of social life that have to do with order, stability, and social organization that allow societies and groups to hold together and endure. - Answer: Social statics Herbert Spencer viewed society as a system, having important similarities with - Answer: a biological organism __________ refers to processes of social life that pattern institutional development and have to do with social change. -...

The modern definition of agriculture includes Select one: a. animal husbandry and shifting cultivation. b. vegetative and seed planting. c. multiple hearths of origin. d. the deliberate domestication of plants and animals. e. none of the above. - d Agriculture is associated with the Select one: a. secondary sector of the economy. b. quaternary sector of the economy. c. tertiary sector of the economy. d. primary sector of the economy. e. service sector of the economy. - d The most p...

1. define Globalisation the process through which nation- al economies, societies and cultures are becoming increasingly intercon- nected through global networks of trade, communication, transportation and immigration 2. where are levels of globalisation the highest 3. where are levels of globalisation the lowest 4. 3 Key Characteristics of Globalisa- tion between core countries, as a result of them having sorted out major do- mestic problems, giving them spare capacity to look to solve ...

Chapter 1—Financial Reporting MULTIPLE CHOICE 1. The following is NOT a major component of the financial statements: a. auditor’s opinion b. annual report c. explanatory notes d. balance sheet ANS: B PTS: 1 TOP: AICPA FN-Reporting DIF: Easy OBJ: LO 1 MSC: AACSB Reflective Thinking 2. The following are users of accounting information: a. stakeholders b. creditors c. investors d. all of the above ANS: D PTS: 1 TOP: AICPA FN-Reporting 3. Interested parties receive information ab...

Latest CIE IGCSE Economics Final Exam with 100% Correct Answers what is the basic economic problem *Ans* how to allocate resources to satisfy unlimited needs and wants (scarcity) what is the chain of production *Ans* describes how businesses from the primary, secondary and tertiary sectors work interdependently to make a product and sell it to the final customer what are Economic Agents *Ans* households (private individuals in society), firms that operate in the private sector of an...

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OMIS 450 Exam 1 Questions With 100% Verified Answers Why was there a surge of interest in service operations. - answer• Quality Movement • Significant role in economic life definition of services - answerEconomic activity that produces time, place, form or psychological utilities. definition of services - answerAll economic activities whose output is not tangible definition of services - answerTime-perishable, intangible experience performed for a customer acting in the role of a co-...

RPTM 410 EXAM 1 Question and answers verified to pass RPTM 410 EXAM 1 Understand primary sector, secondary sector, and tertiary sector of the economy - correct answer primary is agriculture/extracting raw materials secondary produces goods like factories and tertiary is the services being offered to consumers Know the definition of service; the definition of marketing - correct answer Service: economic activities which bring about desired results to recipients, objects, or other asse...